INVESTOR CLASS ACTION DEADLINES: Bernstein Liebhard LLP Reminds Investors in Lipocine, Inc., Armstrong Flooring, Inc., and Grubhub, Inc. of Filing Deadlines
NEW YORK, Dec. 30, 2019 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announces that class action complaints have been filed on behalf of shareholders of LPCN, AFI, and GRUB. If you wish to serve as lead plaintiff, you must move the court by the lead plaintiff deadlines listed below. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you take no action, you may remain an absent class member.
To discuss the cases below please contact Matthew E. Guarnero toll free at (877) 779-1414.
Lipocine, Inc. (NASDAQ: LPCN) CLASS PERIOD: 03/27/2019 - 11/08/2019 LEAD PLAINTIFF DEADLINE: January 14, 2020
Defendants failed to disclose to investors that: (i) the results from Lipocine’s clinical studies of TLANDO were insufficient to demonstrate the drug’s efficacy; (ii) accordingly, Lipocine’s third NDA for TLANDO was highly likely to be found deficient by the FDA; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Armstrong Flooring, Inc. (NYSE: AFI) CLASS PERIOD: 03/06/2018 - 11/04/2019 LEAD PLAINTIFF DEADLINE: January 14, 2020
Defendants failed to disclose to investors that: (1) that the Company had engaged in channel stuffing to artificially boost sales; (2) that the Company’s internal control over inventory levels was not effective; and (3) that, 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.
Grubhub, Inc. (NYSE: GRUB) CLASS PERIOD: 07/30/2019 - 10/28/2019 LEAD PLAINTIFF DEADLINE: January 21, 2020
Defendants failed to disclose to investors that: (i) customer orders were actually declining, despite the massive investments the Company had made to spur demand for and use of its platform; (ii) Grubhub’s new customer additions were generating significantly lower revenues as compared to historic cohorts because these customers were more prone to using competitor platforms; (iii) Grubhub’s vaunted business model under which it secured exclusive restaurant partnerships had failed, and Grubhub needed to engage in the same aggressive non-partnered sales tactics embraced by its competitors to generate significant revenue growth; (iv) Grubhub was required to spend substantial additional capital in order to grow revenues and retain market share in the face of heightened competitive dynamics and market saturation, eviscerating the Company’s profitability; and (v) Grubhub was tracking tens of millions of dollars below its revenue and earnings guidance and such guidance lacked any reasonable basis.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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