CenturyLink, Inc.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. CenturyLink failed to disclose the material weakness of its revenue recording process along with the procedures for measuring the fair value of assets and liabilities related to the acquisition of Level 3 Communications, Inc. As a result, the Company delayed the filing of its Form 10-K for the fiscal year ending December 31, 2018, despite reporting the results by press release on February 13, 2019. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about CenturyLink, investors suffered damages.

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Avon Products, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Avon developed a plan not disclosed to investors to loosen its credit terms in Brazil, to recruit new representatives in its largest market. The Company did not increase its allowance for doubtful accounts despite putting the credit loosening scheme in place. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Avon, investors suffered damages.

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Diplomat Pharmacy, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Diplomat downplayed its success in integrating its PBM business, which included LDI Integrated and National Pharmaceutical, companies it acquired in 2017. As a result, the Company had to record a non-cash impairment charge of $630 million related to the PBM business and its acquisitions. Based on this charge, the Company withdrew its 2019 full-year outlook. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Diplomat, investors suffered damages.

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AT&T Inc.

According to the Complaint, the Company made false and misleading statements to the market. AT&T increased prices for DirecTV Now service while discontinuing promotional discount offers for the service at the same time. This resulted in existing customers leaving the service when their discount expired, and new customers avoiding the service altogether based on high prices. Based on these facts, the Company’s public statements were false and materially misleading. When the market learned the truth about AT&T, investors suffered damages.

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Stamps.com, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Stamps.com’s financial performance was based upon the manipulation of a USPS program that utilizes up to $235 million each year. This caused the Company’s business to be unsustainable and its financial results to be misleading. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Stamps.com, investors suffered damages.

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WuXi PharmaTech (Cayman) Inc.

According to the Complaint, the Company made false and misleading statements to the market. WuXi failed to provide material information and made misrepresentations in public statements to investors, making it impossible for them to make an informed decision about the proposed merger between the Company and New WuXi Life Science Limited and WuXi Merger Limited for approximately $3.62 billion. The Company planned to spin-off the subsidiaries as publicly-traded entities for their own gain. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about WuXi, investors suffered damages.

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Corbus Pharmaceuticals Holdings, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Corbus inappropriately changed the primary efficacy endpoint of its clinical trial for its drug candidate Lenabasum. The change took place after the trial’s results were unblinded to the Company. Corbus replaced the two-sided p value traditionally reported in clinical trials with a one-sided p value, in an effort to conceal the study result’s lack of statistical significance. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Corbus, investors suffered damages.

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Venator Materials PLC

According to the Complaint, the Company made false and misleading statements to the market. Venator’s Pori facility suffered a fire that damaged the property much worse than was disclosed to investors, leaving it beyond repair. The cost of the fire exceeded $1 billion, far beyond the limits of the Company’s insurance policy. The Company incurred massive fees in a futile effort to expedite repairs to the facility. Venator lost about 80% of the production capacity of the Pori facility. At the same time, the Company’s reported annual Titanium Dioxide production capacity had been inflated by about 15%. The Company paid over $600 million in restructuring charges and expenses associated with the closure and replacement of the Pori facility. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Venator, investors suffered damages.

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BrightView Holdings, Inc.

According to the Complaint, the Company made false and misleading statements to the market. A considerable number of Brightview’s contracts were performing poorly and generating undesirable costs for the Company. Brightview designed a “managed exit” strategy to end unprofitable contracts and low margin business arrangements. This strategy negatively impacted revenue throughout 2018 and has continued to negatively impact revenues in 2019. Based on these facts, the Company’s Registration Statement was false and materially misleading throughout the IPO. When the market learned the truth about BrightView, investors suffered damages.

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Syneos Health, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Syneos’ failed to maintain adequate internal controls over financial reporting. Due to the Company’s poor controls, it became the target of an SEC investigation of its revenue accounting policies and other related items. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Syneos, investors suffered damages.

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