In This Article:
NEW YORK, NY / ACCESSWIRE / December 18, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
TEUM Shareholders Click Here: https://www.zlk.com/pslra-1/pareteum-corporation-loss-form?prid=4954&wire=1
HEXO Shareholders Click Here: https://www.zlk.com/pslra-1/hexo-corp-loss-form?prid=4954&wire=1
XYF Shareholders Click Here: https://www.zlk.com/pslra-1/x-financial-loss-form?prid=4954&wire=1
* ADDITIONAL INFORMATION BELOW *
Pareteum Corporation (TEUM)
TEUM Lawsuit on behalf of: investors who purchased December 14, 2017 - October 21, 2019
Lead Plaintiff Deadline : December 23, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/pareteum-corporation-loss-form?prid=4954&wire=1
According to the filed complaint, during the class period, Pareteum Corporation made materially false and/or misleading statements and/or failed to disclose that: (a) it was not true that the Company's purported success was the result of hyper-demand for Pareteum's unique products or exceptional service, or the Company's competent management; but, in fact, Defendants had propped up the Company's results by manipulating Pareteum's accounting for revenues, income, and the important Backlog metric; (b) Defendants had materially overstated the Company's profitability by failing to properly account for the Company's results of operations and by artificially inflating the Company's financial results; (c) it was not true that Pareteum contained even the most minimally adequate systems of internal operational or financial controls necessary to assure that Pareteum's reported financial statements were true, accurate, and/or reliable; (d) as a result, it also was not true that the Company's financial statements and reports were prepared in accordance with GAAP and SEC rules; and (e) as a result of the aforementioned adverse conditions, Defendants lacked any reasonable basis to claim that Pareteum was operating according to plan, or that Pareteum could achieve the guidance sponsored and/or endorsed by Defendants.
HEXO Corp. (HEXO)
HEXO Lawsuit on behalf of: investors who purchased January 25, 2019 - November 15, 2019
Lead Plaintiff Deadline : January 27, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/hexo-corp-loss-form?prid=4954&wire=1
According to the filed complaint, during the class period, HEXO Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) HEXO's reported inventory was misstated as the Company was failing to write down or write off obsolete product that no longer had value; (2) HEXO was engaging in channel-stuffing in order to inflate its revenue figures and meet or exceed revenue guidance provided to investors; (3) HEXO was cultivating cannabis at its facility in Niagara, Ontario that was not appropriately licensed by Health Canada; and (4) 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.