In This Article:
WILMINGTON, Del., Aug. 18, 2020 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A. reminds investors of upcoming deadlines involving securities fraud class action lawsuits commenced against the following companies:
PlayAGS, Inc. (NYSE: AGS)
Class Period: August 2, 2018 – August 7, 2019
Lead Plaintiff Deadline: August 24, 2020
According to the Complaint, on August 7, 2019, PlayAGS reported a net loss of $7.6 million for second quarter 2019, which included a $3.5 million impairment to goodwill and $1.3 million impairment to intangible assets of the Company’s iGaming reporting unit, due to extended regulatory timelines which delayed revenues.
To learn more, visit: https://rl-legal.com/cases-playags-inc
Insperity, Inc. (NYSE: NSP)
Class Period: February 11, 2019 – February 11, 2020
Lead Plaintiff Deadline: September 21, 2020
According to the Complaint, on February 11, 2019, the start of the Class Period, Insperity reported its fourth quarter and full-year 2018 financial results, which results were up significantly year-over-year. Additionally the Company offered bullish full-year 2019 guidance. Likewise, on April 29, 2019, Insperity reported “record” first quarter results, and raised its full-year 2019 guidance. Therefore, at least according to Defendants’ narrative, Insperity was poised to deliver a record year of growth as a result of the Company’s successful business model. As a result, Insperity’s stock price dramatically increased during the first half of 2019.
The truth about Insperity’s deceptive business practices was revealed through a series of disclosures. First, on July 29, 2019, Insperity released its second quarter 2019 financial results. Despite delivering year-over-year growth and meeting analysts’ estimates, the Company offered disappointing third quarter 2019 guidance and reduced its full-year 2019 guidance. Further, Defendants revealed that in the second quarter 2019, Insperity had experienced an increase in large medical claim costs, which Defendants described as an anomaly which would not impact projected cost benefit trends. On this news, Insperity shares fell $35.74 per share, or 25%.
Second, on November 4, 2019, Insperity released its third quarter 2019 financial results, which substantially missed analysts’ estimates and were materially down year-over-year. In addition, Insperity materially reduced its full-year 2019 guidance. Defendants attributed these results to continued large medical claim costs, which they again attempted to describe as a mere anomaly to assuage investor concern. On this news, Insperity shares fell by $36.29 per share, or 34%.