The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of ADTN, CADE, OSTK and IRBT

The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of ADTN, CADE, OSTK and IRBT

NEW YORK, Nov. 01, 2019 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.      

ADTRAN, Inc. (NASDAQ: ADTN)
Class Period: February 28, 2019 to October 9, 2019
Lead Plaintiff Deadline: December 16, 2019

The lawsuit alleges that throughout the class period, ADTRAN, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) there were material weaknesses in the Company’s internal control over financial reporting; (2) as a result, certain E&O reserves had been improperly reported; (3) as a result, the Company’s financial results for certain periods were misstated; (4) there would be a pause in shipments to the Company’s Latin American customer; 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.

Get additional information about the ADTN lawsuit: http://www.kleinstocklaw.com/pslra-1/adtran-inc-loss-submission-form?wire=3 

Cadence Bancorporation (NYSE: CADE)
Class Period: July 23, 2018 to July 22, 2019
Lead Plaintiff Deadline: November 15, 2019

Cadence Bancorporation allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) the Company lacked adequate internal controls to assess credit risk; (2) as a result, certain of the Company’s loans posed an increased risk of loss; (3) as a result, the Company was reasonably likely to incur significant losses for certain loans; (4) the Company’s financial results would suffer a material adverse impact; 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.

Get additional information about the CADE lawsuit: http://www.kleinstocklaw.com/pslra-1/cadence-bankcorporation-loss-submission-form?wire=3 

Overstock.com, Inc. (NASDAQ: OSTK)
Class Period: May 9, 2019 to September 23, 2019
Lead Plaintiff Deadline: November 26, 2019

The lawsuit alleges Overstock.com, Inc. made materially false and/or misleading statements and/or failed to disclose during the class period that: (a) it was not true that Overstock would be able to support the launch of its tZERO crypto currency with earnings or cash flow from its retail operations and that whatever marginal improvements defendants had made by cutting costs and engineering earnings could not be sustained so as to generate positive EBITDA or cash from operations necessary to support its crypto currency operations; (b) there were extreme additional risks and substantial volatility in the price of Company shares was foreseeable, given defendants’ undisclosed plan to offer its tZERO Preferred Share Dividend as a means to squeeze short sellers out of Overstock and to prevent them from holding legitimate positions in the Company; (c) there was a foreseeable likelihood that the Company’s ability to accomplish its intended short squeeze would embolden the SEC or even market participants, such as major brokerage houses, to act to prevent this market manipulation; (d) it was not true that Overstock contained adequate systems of internal operational or financial controls, such that Overstock’s quarterly reports filed with the SEC were true, accurate or reliable; (e) as a result of the foregoing, it also was not true that the Company’s quarterly reports filed with the SEC were prepared in accordance with GAAP ad SEC rules; and (f) as a result of the aforementioned adverse conditions which defendants failed to disclose, defendants lacked any reasonable basis to claim that Overstock was operating according to plan, or that Overstock could achieve guidance sponsored and/or endorsed by defendants.

Get additional information about the OSTK lawsuit: http://www.kleinstocklaw.com/pslra-1/overstock-com-inc-loss-submission-form?wire=3 

iRobot Corporation (NASDAQ: IRBT)
Class Period: November 21, 2016 to October 22, 2019
Lead Plaintiff Deadline: December 23, 2019

The filed complaint alleges that defendants misrepresented the reason for iRobot’s acquisitions of Tokyo-based Sales on Demand Corporation and privately-held Robopolis SAS, which was to control the Company’s largest distributors so that defendants could inflate sales and revenue figures by stuffing the channel. Defendants further misled investors by repeatedly telling them throughout the Class Period that the Company was seeing continued double-digit revenue growth, and by attributing the growth to increased demand for the Roomba vacuums, when in reality defendants were engaging in channel-stuffing to artificially boost sales. Defendants also misstated that the Company’s channel inventory levels had not changed and would not change dramatically from quarter to quarter or year over year, when in fact iRobot was deliberately stuffing the channel in order to claim false revenue growth.

Get additional information about the IRBT lawsuit: http://www.kleinstocklaw.com/pslra-1/irobot-corporation-loss-submission-form?wire=3 

Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. There is no cost or obligation to you. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.

J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
[email protected]
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com