Bragar Eagel & Squire, PC Reminds Investors Class Actions Have Been Filed … | Your money
NEW YORK, Sept. 27, 2021 (GLOBE NEWSWIRE) – Bragar Eagel & Squire, PC, a nationally recognized law firm, reminds investors that class actions have been filed on behalf of shareholders of Live Ventures Incorporated ( NASDAQ: LIVE), Generac Holdings Inc. (NYSE: GNRC) and Longeveron Inc. (NASDAQ: LGVN). Shareholders have until the deadlines below to request the court to act as principal plaintiff. Additional information on each case can be found at the link provided.
Live Ventures Incorporated (NASDAQ: LIVE)
Class period: December 28, 2016 to August 3, 2021
Principal applicant deadline: October 12, 2021
On August 3, 2021, the United States Securities and Exchange Commission (“SEC”) filed a lawsuit against Live Ventures, its CEO and CFO alleging “multiple financial, disclosure and income reporting violations. and inflated profits. per share, share promotion and covert trading, and undisclosed executive compensation. Specifically, the SEC alleged that Live Ventures recorded income from a backdated contract, which increased pre-tax profit for fiscal 2016 by 20%, and underestimated the number of shares outstanding, which overestimated earnings per share by 40%.
Following this news, the Company’s share price fell $ 29.08, or 46%, to close at $ 33.50 per share on August 4, 2021, on unusually high trading volume.
The stock price continued to decline $ 7.74, or 23%, over the next four consecutive trading days to close at $ 25.76 per share on August 10, 2021.
The complaint filed in this class action alleges that throughout the Class Period, the Defendants made materially false and / or misleading statements, and failed to disclose material adverse facts regarding the business, operations and prospects of the society. Specifically, the Defendants failed to disclose to investors: (1) that Live’s earnings per share for fiscal 2016 were in fact only $ 6.33 per share; (2) that the Company used an artificially low number of shares to increase earnings per share by 40%; (3) that Live overstated fiscal 2016 pre-tax earnings by 20% by including $ 915,500 of âother incomeâ related to certain changes that were not negotiated until after fiscal year-end; (4) that the acquisition of ApplianceSmart by Live was not finalized during the first quarter of 2017; (5) that the use of December 30, 2017 as the âacquisition dateâ and the recognition of the income resulting from it did not comply with generally accepted accounting principles; (6) that by falsely stating that the acquisition was completed during the quarter, Live recognized a beneficial purchase gain, which allowed the Company to report a positive net profit over what would otherwise have been been an unprofitable quarter; (7) that between fiscal 2016 and fiscal 2018, the CEO of Live received approximately 94% more in compensation than was disclosed to investors; and (8) as a result, the Defendants’ statements regarding its business, operations and prospects were materially false and misleading and / or lacked reasonable basis at all material times.
For more information on the Live Ventures class action lawsuit, visit: https://bespc.com/cases/LIVE
Generac Holdings Inc. (NYSE: GNRC)
Class period: February 23, 2021 to July 29, 2021
Principal applicant deadline: October 19, 2021
On July 29, 2021, Generac issued a recall of certain models of the company’s portable generators, citing reports of seven finger amputations and one finger crushing incident.
On this news, the Generac share price fell $ 31.04 per share, or 7.2%, over three trading sessions, closing at $ 400.00 per share on August 2, 2021.
According to the complaint, the defendants throughout the litigation period made false and / or misleading statements and / or failed to disclose that: (1) Generac’s portable generators posed an unreasonable risk of injury to them. users and the public; (2) as a result, at least seven finger amputations and one crushed finger were reported to the Company; (3) as a result, Generac would face increased regulatory oversight; (4) the Company would end sales of its 6,500-watt and 8,000-watt GeneracÂ® and DRÂ® portable generators in the United States and Canada in June 2021; (5) the Company would recall its 6,500-watt and 8,000-watt GeneracÂ® and DRÂ® portable generators in the United States and Canada; (6) the end of sales and the recall would occur before the hurricane and wildfire seasons noted by the Company and after the outage in Texas, which periods the Company has advertised for sales; and (7) as a result, the defendants’ public statements and statements to journalists were materially false and / or misleading at all relevant times. When the real details entered the market, the lawsuit claims that investors have suffered damage.
For more information on the Generac class action lawsuit, visit: https://bespc.com/cases/GNRC
Longeveron Inc. (NASDAQ: LGVN)
Appeal period: February 12, 2021 IPO; February 12, 2021 to August 12, 2021
Lead Applicant Deadline: November 12, 2021
On May 11, 2021, SelectQuote held a conference call as part of its third quarter 2021 financial results in which it revealed that its fourth quarter results would be impacted by a “negative cohort and tail adjustment” due to of “the persistence below the second term for the 2019 cohort.”
Following this news, the Company’s share price fell $ 5.50, or 20%, to close at $ 21.90 per share on May 12, 2021, on unusually high trading volume. The complaint filed in this class action alleges that throughout the Class Period, the Defendants made materially false and / or misleading statements, and failed to disclose material adverse facts regarding the business, operations and prospects of the society. Specifically, the defendants made false claims regarding the following: (1) that the 2019 SelectQuote cohort was underperforming; (2) that as a consequence, the financial results of the Company would be adversely affected; and (3) that as a result of the foregoing, the Defendants’ positive statements regarding the business, operations and prospects of the Company were materially misleading and / or lacked reasonable basis.
For more information on the Longeveron class action lawsuit, visit: https://bespc.com/cases/LGVN
About Bragar Eagel & Squire, PC: Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York City, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertising. Past results do not guarantee similar results.
Contact details: Bragar Eagel & Squire, PC Brandon Walker, Esq. Melissa Fortunato, Esq. Marion Passmore, Esq. (212) 355-4648 firstname.lastname@example.org