Financial News

LAWSUITS FILED AGAINST LOPE, WFC and CEMI - Jakubowitz Law Pursues Shareholders Claims

NEW YORK, NY / ACCESSWIRE / June 26, 2020 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.

Grand Canyon Education, Inc. (NASDAQ:LOPE)

CONTACT JAKUBOWITZ ABOUT LOPE:
https://claimyourloss.com/securities/grand-canyon-education-inc-loss-submission-form/?id=7605&from=1

Class Period: January 5, 2018 - January 27, 2020

Lead Plaintiff Deadline: July 13, 2020

According to a filed complaint, statements made by Defendants were false and/or misleading because, following Grand Canyon's spin-off of its educational assets as Grand Canyon University ("GCU"): (i) GCU would not be a proper non-profit organization as it would remain under the control of Grand Canyon, and (ii) Grand Canyon would not be a third-party service provider to GCU but rather would continue to effectively operate the entity, and (iii) Grand Canyon employees served as executives of GCU and (iv) GCU functioned as an off-balance-sheet entity to which Grand Canyon would be able to funnel expenses and costs in exchange for a disproportionate amount of revenue, thereby inflating Grand Canyon's financial results.

Wells Fargo & Company (NYSE:WFC)

CONTACT JAKUBOWITZ ABOUT WFC:
https://claimyourloss.com/securities/wells-fargo-company-loss-submission-form/?id=7605&from=1

Class Period: April 5, 2020 - May 5, 2020

Lead Plaintiff Deadline: August 3, 2020

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Wells Fargo planned to, and did, improperly allocate government-backed loans under the Paycheck Protection Program ("PPP"), and/or had inadequate controls in place to prevent such misallocation; (ii) the foregoing foreseeably increased the Company's litigation risk with respect to PPP allocation, as well as increased regulatory scrutiny and/or potential enforcement actions; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

Chembio Diagnostics, Inc. (NASDAQ:CEMI)

CONTACT JAKUBOWITZ ABOUT CEMI:
https://claimyourloss.com/securities/chembio-diagnostics-inc-loss-submission-form/?id=7605&from=1

Class Period: March 12, 2020 - June 16, 2020

Lead Plaintiff Deadline: August 17, 2020

According to the filed complaint, defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated Chembio's stock price and operated as a fraud or deceit by misrepresenting the efficacy of the Company's Dual Path Platform ("DPP") COVID-19 test. Defendants allegedly achieved this by making false statements about Chembio's DPP COVID-19 test, although they knew or at least recklessly disregarded that there were material performance concerns with the test. When defendants' prior misrepresentations were disclosed and became apparent to the market, the price of Chembio stock fell precipitously as the prior artificial inflation came out of Chembio's stock price.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

SOURCE: Jakubowitz Law



View source version on accesswire.com:
https://www.accesswire.com/595435/LAWSUITS-FILED-AGAINST-LOPE-WFC-and-CEMI--Jakubowitz-Law-Pursues-Shareholders-Claims

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.

Use the myMotherLode.com Keyword Search to go straight to a specific page

Popular Pages

  • Local News
  • US News
  • Weather
  • State News
  • Events
  • Traffic
  • Sports
  • Dining Guide
  • Real Estate
  • Classifieds
  • Financial News
  • Fire Info
Feedback