BTU, TCMD & PT Class Action Reminders: Bronstein, Gewirtz & Grossman LLC Reminds ...
NEW YORK, Oct. 15, 2020 (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 Hurwitz 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.
Peabody Energy Corporation (NYSE: BTU)
Class Period: April 3, 2017 - October 28, 2019
Deadline: November 27, 2020
For more info: www.bgandg.com/btu
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements that: (1) the Company had failed to implement adequate safety controls at the North Goonyella mine to prevent the risk of a spontaneous combustion event; (2) the Company failed to follow its own safety procedures; and (3) as a result, the North Goonyella mine was at a heightened risk of shutdown. Further, according to the lawsuit, following the September 28, 2018 fire and throughout the remainder of the Class Period, defendants failed to disclose, and would continue to omit, the following adverse facts pertaining to the feasibility of Peabody’s plan to restart the North Goonyella mine: (1) the Company’s low-cost plan to restart operations at the mine posed unreasonable safety and environmental risks; (2) the Australian body responsible for ensuring acceptable health and safety standards, the Queensland Mines Inspectorate (“QMI”), would likely mandate a safer, cost-prohibitive approach; and (3) as a result, there would be major delays in reopening the North Goonyella mine and restarting coal production. When the true details entered the market, the lawsuit claims that investors suffered damages.
Tactile Systems Technology (NASDAQ: TCMD)
Class Period: May 7, 2018 - June 8, 2020
Deadline: November 30, 2020
For more info: www.bgandg.com/tcmd
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements that: (1) while Tactile publicly touted a $4 plus billion or $5 plus billion market opportunity, in truth, the total addressable market for Tactile’s medical devices was materially smaller; (2) to induce sales growth and share gains, Tactile and/or its employees were engaged in illicit and illegal sales and marketing activities in violation of applicable federal and state rules and public payer regulations; (3) the foregoing illicit and illegal sales and marketing activities increased the risk of a Medicare audit of Tactile’s claims and criminal and civil liability; (4) Tactile’s revenues were in part the product of unlawful conduct and thus unsustainable; and that as a result of the foregoing, (5) Defendants’ public statements, including its year-over-year revenue growth and the purported growth drivers, were materially false and misleading at all relevant times.
Pintec Technology Holdings Limited (NASDAQ: PT)
Class Period: Pintec securities acquired pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s October 2018 initial public offering (“IPO” or the “Offering”)
Deadline: November 30, 2020
For more info: www.bgandg.com/pt
The Complaint alleges that the Registration Statement was false and misleading and omitted to state material facts, and specifically failed to disclose that: (1) the Company erroneously recorded revenue earned from certain technical service fee on a net basis, rather than a gross basis; (2) there were material weaknesses in Pintec’s internal control over financial reporting related to cash advances outside the normal course of business to Jimu Group, a related party, and to a non-routine loan financing transaction with a third-party entity, Plutux Labs; (3) as a result of the foregoing, the Company’s financial results for fiscal 2017 and 2018 had been misstated; and (4) consequently, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org