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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

PTON, ZME & CTXS – Bronstein, Gewirtz & Grossman, LLC Reminds Stockholders of Class Actions and Deadlines

January 6, 2022 GMT

NEW YORK, Jan. 06, 2022 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. 

Peloton Interactive, Inc.  (NASDAQ: PTON)
Class Period: December 9, 2020 - November 4, 2021
Deadline: January 18, 2022
For more info: www.bgandg.com/pton.
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendants repeatedly, falsely assured investors that Peloton’s recent success was not primarily due to COVID-related increased demand, but rather that the Company’s growth and financial results were sustainable and would continue post-COVID; (2) Defendants’ statements represented specific inventory amounts on hand, and that those inventory levels aligned with and reflected customer demand. In truth, however, and as the Company admitted, Peloton had a material weakness in its internal controls over financial reporting that left Defendants unable to accurately ascertain inventory levels; (3) Defendants accordingly were unable to align supply and demand, and by the end of the Class Period, the Company had a massive growth in inventory that far exceeded customer demand; and (4) as a result, Defendants’ statements about the Company’s inventory, and what inventory levels reflected regarding demand, were materially false and misleading and/or lacked a reasonable basis.

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Zhangmen Education Inc. (NYSE: ZME)
Class Period: Zhangmen American Depositary Shares of Zhangmen in or traceable to the Company’s initial public offering (the “IPO”), conducted on or about June 8, 2021.
Deadline: January 18, 2022
For more info: www.bgandg.com/zme.                       
The complaint alleges that Zhangmen made misleading statements to investors and failed to disclose that: (1) PRC authorities were in the process of implementing sweeping new regulatory reforms on the private education industry in China including, among others, prohibitions on: (a) profit-making by private education companies, (b) engaging in core-curriculum tutoring on weekends and vacations, and (b) capital-raising by companies like Zhangmen Education; (2) the known risks, events, and uncertainties noted in the Registration Statement were reasonably likely to have a material adverse effect on Zhangmen Education’s business; and (3) based on the foregoing, the statements in the Registration Statement concerning Zhangmen Education’s historical financial performance, market demand, and industry trends were materially incomplete, inaccurate, and misleading.

Citrix Systems, Inc. (NASDAQ: CTXS)
Class Period: January 22, 2020 - October 6, 2021
Deadline: January 18, 2022
For more info: www.bgandg.com/ctxs.                       
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, and failed to disclose material facts including: (1) that the transition to a cloud-based product and to a subscription pricing model was going smoothly and successfully; (2) in particular, Defendants willfully or recklessly made and/or caused the Company to make false and misleading statements to the investing public that failed to disclose that the cloud product was substantially similar to the on-premise offering, and that the Company was experiencing significant challenges transitioning customers from on-premise to the cloud; (3) the materially false and misleading statements and omissions artificially inflated the price of Citrix common stock and operated as a fraud or deceit on the Class. Later, when Defendants’ prior misrepresentations and fraudulent conduct were disclosed to the market, the price of Citrix stock fell precipitously as the prior artificial inflation came out of the price over time; and (4) as a result of their purchases of Citrix stock during the Class Period, investors suffered economic loss.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | info@bgandg.com