Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Trevena, Jianpu, and Bank OZK and Encourages Investors to Contact the Firm
NEW YORK, Nov. 02, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Trevena, Inc., Jianpu Technology Inc., and Bank OZK. Stockholders have until the deadlines listed below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Trevena, Inc. (NASDAQ: TRVN)
Class Period: May 2, 2016 - October 8, 2018
Lead Plaintiff Deadline: December 10, 2018
The complaint alleges that throughout the Class Period, defendants made false and misleading statements and failed to disclose to investors material adverse facts about the company’s interactions with the FDA. Specifically, Trevena is alleged to have misled its shareholders to believe that the company’s April 28, 2016 “End-of-Phase 2 Meeting” with the FDA was far more successful than it actually was. The company did so by issuing a press release entitled “Trevena Announces Successful End-of-Phase 2 Meeting with FDA and Outlines Phase 3 Program for Oliceridine” on May 2, 2016, in which the company announced that it had “reached general agreement” with the FDA on key elements of its Phase 3 program for oliceridine (TRV 130), and was “very pleased” with the outcome of its discussions with the FDA. In reality, the FDA disagreed with Trevena on several key factors relating to whether oliceridine would ultimately be approved for commercial distribution. Trevena’s filings therefore concealed the true risks faced by the company in gaining ultimate FDA approval.
To learn more about the Trevena class action go to: https://bespc.com/trvn/.
Jianpu Technology Inc. (NYSE: JT)
Class Period: Pursuant and/or traceable to the initial public offering on or about November 16, 2017
Lead Plaintiff Deadline: December 24, 2018
The complaint alleges that the Company’s IPO offering materials contained inaccurate statements of material fact and/or omitted material information required to be disclosed in order to make such statements not misleading, including failure to disclose that the China Banking Regulatory Commission and three other Chinese regulators had issued rules in 2016 requiring peer-to-peer lending companies to appoint qualified banking institutions as custodians and disclose their use of deposits. On November 21, 2017, news outlets reported that China’s Financial Stability and Development Committee (“FSDC”) had issued an urgent notice to provincial governments urging them to suspend regulatory approval of new internet micro-loan companies. Following this news, Jianpu’s shares fell over 38% in three days and closed at $4.90 per share on November 24, 2017.
To learn more about the Jianpu class action go to: http://bespc.com/jt/.
Bank OZK (NASDAQ: OZK)
Class Period: February 19, 2016 - October 18, 2018
Lead Plaintiff Deadline: December 26, 2018
The complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company lacked adequate internal controls to assess credit risk; (2) that, as a result, certain of the Companys loans posed an increased risk of loss; (3) that certain substandard loans were reasonably likely to lead to charge-offs; and (4) that, as a result of the foregoing, Defendants positive statements about the Companys business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
To learn more about the Bank OZK class action go to: https://bespc.com/ozk/.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.