CLASS ACTION UPDATE for RYAAY, GSKY, RBBN and NSANY: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, Dec. 31, 2018 (GLOBE NEWSWIRE) -- 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 and further details about the cases can be found at the links provided. There is no cost or obligation to you.
Ryanair Holdings plc (NASDAQ: RYAAY) Class Period: Purchasers of American Depositary Shares May 30, 2017 - September 28, 2018 Lead Plaintiff Deadline: January 9, 2019 Join the action: https://www.zlk.com/pslra-1/ryanair-holdings-plc-loss-form?wire=3
The lawsuit alleges: Ryanair Holdings plc made materially false and/or misleading statements and/or failed to disclose that: (a) the Company had experienced a breakdown in relations with its employees amidst their growing dissatisfaction with working conditions, lack of benefits, exploitative contracts and management hostility; (b) the Company’s pilots and/or cabin crews had sought union recognition or collectivization in several key markets and employees had internally expressed widespread discontent with the Company’s collective bargaining units; (c) the Company was experiencing elevated and increasing employee turnover, which had resulted in the loss of hundreds of qualified and skilled employees to competitor airlines; (d) the Company’s newly negotiated contracts had not ameliorated employee discontent or “locked away” employee wage growth for three or four years, but rather, defendants were aware that pilot and cabin crew contracts had to be reformulated to significantly increase pay and benefits, comply with local labor laws and provide other worker concessions to enable Ryanair to hire and retain sufficient qualified employees to meet operational targets; (e) because of the aforementioned, the Company was unable to hire sufficient pilots to meet expected demand and was thereby exposed to increased risk of flight cancellations, loss of reputational assets and increased costs from flight disruptions; (f) because of the aforementioned, the Company’s historical operating model and profit growth were not sustainable; and (g) the Company could not meet internal earnings expectations.
To learn more about the Ryanair Holdings plc class action contact email@example.com.
GreenSky, Inc. (NASDAQGS: GSKY) Class Period: Class A common shareholders who purchased shares pursuant to the IPO on or around May 23, 2018 Lead Plaintiff Deadline: January 28, 2019 Join the action: https://www.zlk.com/pslra-1/greensky-inc-loss-form?wire=3
The complaint alleges that the Offering Documents failed to disclose material information and/or misstated material information, including the substantial change in the composition of GreenSky’s merchant business mix and the resulting diminution in transaction-fee revenue. The Initial Public Offering closed on May 29, 2018 with GreenSky having sold 43.7 million shares of Class A common stock at $23.00 per share. On November 6, 2018, GreenSky issued a press release indicating that the Company’s transaction-fee rate was approximately 35 basis points below the rate achieved in the third quarter of 2017. Following this news, shares of GreenSky closed at $9.28 per share on November 6, 2018.
To learn more about the GreenSky, Inc. class action contact firstname.lastname@example.org.
Ribbon Communications, Inc. (NASDAQ: RBBN) formerly Sonus Networks, Inc. (NASDAQ: SONS) Class Period: January 8, 2015 - March 24, 2015 Lead Plaintiff Deadline: January 7, 2019 Join the action: https://www.zlk.com/pslra-1/sonus-networks-inc-loss-form?wire=3
The lawsuit alleges: Ribbon Communications, Inc. (formerly Sonus Networks, Inc.) made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) the Company would fall materially short of its $74 million revenue forecast; (2) defendants knew that unrealistic revenue and profitability forecasts remained aspirational and largely unreachable, a fact that senior sales personnel regularly communicated to defendants; (3) a number of 2015 sales had been “pulled forward” to buoy sales numbers in Q4 2014, at management’s express direction, and (4) the “backlog” of sales expected to be recognized in early 2015 was significantly lower than usual.
To learn more about the Ribbon Communications, Inc. (formerly Sonus Networks, Inc.) class action contact email@example.com.
Nissan Motor Co., Ltd. (OTCMKTS: NSANY) Class Period: December 10, 2013 - November 16, 2018 Lead Plaintiff Deadline: February 8, 2019 Join the action: https://www.zlk.com/pslra-1/nissan-motor-co-ltd-loss-form?wire=3
The lawsuit alleges that, during the class period, Nissan Motor Co., Ltd. made materially false and/or misleading statements and/or failed to disclose that: (1) for more than a decade, Nissan had been materially understating its costs--and thus overstating profits--by paying a material portion of Ghosn’s executive compensation in the form of billions of Yen of deferred compensation that the Company was concealing from its public financial reports; (2) in so doing, Nissan was concealing from investors significant defects in its corporate governance; (3) Nissan’s overpayment of defendant Ghosn had caused it to exceed its shareholder-approved executive pay cap, thus threatening its continued stock listing; (4) Nissan lacked effective internal and reporting controls; and (5) as a result, defendants’ statements about Nissan’s business metrics, operations, and financial prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
To learn more about the Nissan Motor Co., Ltd. class action contact firstname.lastname@example.org.
You have until the lead plaintiff deadlines to request the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:Levi & Korsinsky, LLPJoseph E. Levi, Esq.55 Broadway, 10th FloorNew York, NY 10006 email@example.com Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com