The Gross Law Firm Announces Class Actions on Behalf of Shareholders of PTLA, QD and AAN
March 12, 2020 at 10:45 AM EDT
NEW YORK, NY / ACCESSWIRE / March 12, 2020 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA)
Investors Affected: January 8, 2019 - February 26, 2020
A class action has commenced on behalf of certain shareholders in Portola Pharmaceuticals, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Portola's internal control over financial reporting regarding reserve for product returns was not effective; (2) Portola was shipping longer-dated product with 36-month shelf life; (3) Portola had not established adequate reserve for returns of prior shipments of short-dated product; (4) as a result, Portola was reasonably likely to need to "catch up" on accounting for return reserves; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders may find more information at https://securitiesclasslaw.com/securities/portola-pharmaceuticals-inc-loss-submission-form/?id=5665&from=1
Qudian Inc. (NYSE:QD)
Investors Affected: December 13, 2018 - January 15, 2020
A class action has commenced on behalf of certain shareholders in Qudian Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) regulatory developments in China threatened to negatively impact Qudian's fiscal full year 2019 ("FY19") financial results; (ii) Qudian's business was unprepared to mitigate the risks associated with these regulatory changes; (iii) as a result, Qudian's loan portfolio was plagued by growing delinquency rates; (iv) all of the foregoing made Qudian's repeated assertions concerning its FY19 financial guidance unrealistic; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/qudian-inc-loss-submission-form/?id=5665&from=1
Aarons, Inc. (NYSE:AAN)
Investors Affected: March 2, 2018 - February 19, 2020
A class action has commenced on behalf of certain shareholders in Aarons, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Aaron's had inadequate disclosure controls, procedures, and compliance measures; (ii) consequently, the operations of Aaron's Progressive Leasing ("Progressive") and Aaron's Business ("AB") segments were in violation of the Federal Trade Commission ("FTC") Act and/or relevant FTC regulations; (iii) consequently, Aaron's earnings from those segments were partially derived from unlawful business practices and were thus unsustainable; (iv) the full extent of Aaron's liability regarding the FTC's investigation into its Progressive and AB segments, Aaron's noncompliance with the FTC Act, and the likely negative consequences of all the foregoing on the Company's financial results; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/aarons-inc-loss-submission-form/?id=5665&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
SOURCE: The Gross Law Firm
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