DEADLINE ALERT for ERII, GWRE, and WINS: The Law Offices of Frank R. Cruz Reminds Investors of Class Actions on Behalf of Shareholders
September 21, 2020 at 11:58 AM EDT
LOS ANGELES, Sept. 21, 2020 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to email@example.com.
Energy Recovery, Inc. (NASDAQ: ERII)
The complaint alleges that throughout the Class Period, Energy Recovery made false and/or misleading statements and/or failed to disclose: (1) that the Company and Schlumberger Technology had different strategic perspectives regarding commercialization of VorTeq; (2) that these differences created substantial risk of early termination of the Company’s exclusive licensing agreement with Schlumberger; (3) accordingly, the revenue guidance and expectations of future license revenue was false and lacked reasonable basis; and (4) as a result, Defendants’ public statements were materially false and misleading at all relevant times or lacked a reasonable basis and omitted material facts.
Guidewire Software, Inc. (NYSE: GWRE)
The complaint filed in this class action alleges that throughout the Class Period, Guidewire made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company’s transition to the cloud was not going well; (2) that Guidewire’s cloud-based products needed to be improved to meet customer needs and catch-up with rival systems; (3) that the Company’s transition to the cloud was also hurting Guidewire’s traditional on-premise business; and (4) as a result, Guidewire’s revenue guidance, including guidance principally based on significantly increasing demand for the Company’s cloud-based products, was baseless and unattainable.
Wins Finance Holdings Inc. (NASDAQ: WINS)
The complaint filed in this class action alleges that throughout the Class Period, Wins made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the ultimate repayment of its RMB 580 million Guohong Loan was highly uncertain; (2) that nonpayment of the Guohong Loan would have a significant impact on the Company’s financial and operating condition; (3) that weaknesses in Wins’s internal control over its financial reporting persisted despite the Company’s repeated assurances to investors that it was taking steps to remediate these weaknesses; (4) that the foregoing issues, among others, made the resignation of Wins’s independent auditor foreseeably likely; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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