The Boeing Company (BA) Shareholder Investigation: Lawsuit Filed

Boeing shareholders who purchased or acquired Boeing stock (NYSE ticker: BA) between January 1, 2019 and May 10, 2019, and are interested in learning about their potential rights to recover in a securities class action lawsuit pending against Boeing, please email the Thornton Law Firm at shareholder@tenlaw.com, or call 617-531-3933.

Thornton Law Firm LLP is investigating a securities class action on behalf of shareholders and investors who purchased the securities of The Boeing Company (NYSE ticker: BA). The investigation involves possible violations of the federal securities laws by Boeing. 

According to the lawsuit, Boeing prioritized profitability ahead of airplane safety. Boeing may have misled investors about the sustainability of Boeing’s core Commercial Airplanes segment by maintaining that the Boeing 737 MAX was a safe airplane. Boeing made these statements all while concealing the full extent of safety problems caused by the placement of larger engines on the 737 MAX that changed the handling characteristics of the 737 MAX from previous models. These handling characteristics included the danger of the increased pitch-up tendencies. These changes required special safety features, some of which Boeing installed only as “extras” or “optional features.”

As a result of Boeing’s alleged misconduct, as the news about Boeing’s alleged misconduct was revealed, Boeing’s (BA) stock plunged nearly $70 per share, from approximately $440 a share to $372 a share, the complaint alleges.

If you purchased or otherwise acquired Boeing stock (NYSE: BA) between January 1, 2019 and May 10, 2019, you may have a claim for damages. Please contact the Thornton Law Firm’s shareholder rights team at shareholder@tenlaw.com, or call 617-531-3933.

Thornton Law Firm’s securities attorneys specialize in representing individual shareholders and institutional investors in recovering damages caused by corporate wrongdoing or fraud. Its attorneys have decades of experience litigating securities cases in courts throughout the country and have a proven track record of recovering losses on behalf of shareholders.

Contact Information:

Guillaume O. Buell
Thornton Law Firm LLP
1 Lincoln StreetBoston, Massachusetts 02111 
Email: gbuell@tenlaw.com
Tel: 617-531-3933 
 

RCI Hospitality Holdings (RICK) Shareholder Investigation: Lawsuit Filed

By Garrett J. Bradley, Esq. and Guillaume Buell, Esq.

Published on June 3, 2019

A class action lawsuit has been filed on behalf of investors of RCI Hospitality Holdings (NASDAQ: RICK). Shareholders who purchased at least 1,000 shares of RICK stock between February 14, 2018 and May 10, 2019, and are interested in learning about participating as a lead plaintiff in the lawsuit, are encouraged to contact the Thornton Law Firm at shareholder@tenlaw.com, or call 617-531-3917 to discuss their rights.

Investors interested in serving as a lead plaintiff have until July 22, 2019 to apply. The lawsuit alleges violations of the federal securities laws, and the class has not yet been certified. Until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the lawsuit, RCI made misleading statements, as well as failed to disclose material adverse facts about the Company’s business and operations. Specifically, RCI allegedly failed to disclose to investors that: (1) the Company engaged in numerous transactions with the CEO, including lending him significant sums of money; (2) these practices were reasonably likely to lead to regulatory scrutiny; (3) as a result of investigations into the Company’s governance, the Company would be unable to timely file its financial statements; and (4) Defendants’ positive statements about the Company’s business were misleading or lacked a reasonable basis. As the news about RCI’s alleged misstatements was revealed, RCI’s stock price fell over $3.00 a share.

If you purchased at least 1,000 shares of RCI Hospitality stock (NASDAQ: RICK) between February 14, 2018 and May 10, 2019, and are interested in learning about serving as a lead plaintiff, please contact the Thornton Law Firm’s shareholder rights team at shareholder@tenlaw.com, or call 617-531-3917. All communications will be treated in a confidential manner.

Thornton Law Firm’s securities attorneys specialize in representing individual shareholders and institutional investors in recovering damages caused by corporate wrongdoing or fraud. Its attorneys have decades of experience litigating securities cases in courts throughout the country and have a proven track record of recovering losses on behalf of shareholders.

Whitestone REIT (WSR) Shareholder Investigation: Lawsuit Filed

By Garrett J. Bradley, Esq. and Guillaume Buell, Esq.

Published on May 31, 2019

A class action lawsuit has been filed on behalf of investors of Whitestone REIT (NYSE: WSR). Shareholders who purchased at least 1,000 shares of WSR stock between May 9, 2018 and February 27, 2019, and are interested in learning about participating as a lead plaintiff in the lawsuit, are encouraged to contact the Thornton Law Firm at shareholder@tenlaw.com, or call 617-531-3917 to discuss their rights.

Investors interested in serving as a lead plaintiff have until June 17, 2019 to apply. The lawsuit alleges violations of the federal securities laws, and the class has not yet been certified. Until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the lawsuit, Whitestone made materially false or misleading statements, or failed to disclose, that: (1) Whitestone lacked effective internal control over financial reporting; (2) Whitestone was incorrectly recognizing assets and liabilities; (3) Whitestone’s financial statements for the fiscal year 2018 were overstating revenues; and (4) Whitestone’s financial statements for the fiscal year 2018 could no longer be relied upon. Whitestone’s stock dropped over 14% when the alleged truth was disclosed to investors.

If you purchased at least 1,000 shares of Whitestone REIT stock (NYSE: WSR) between May 9, 2018 and February 27, 2019, and are interested in learning about serving as a lead plaintiff, please contact the Thornton Law Firm’s shareholder rights team at shareholder@tenlaw.com, or call 617-531-3917. All communications will be treated in a confidential manner.

Thornton Law Firm’s securities attorneys specialize in representing individual shareholders and institutional investors in recovering damages caused by corporate wrongdoing or fraud. Its attorneys have decades of experience litigating securities cases in courts throughout the country and have a proven track record of recovering losses on behalf of shareholders.

Contact Information:

 

Guillaume Buell
Thornton Law Firm LLP
1 Lincoln StreetBoston, Massachusetts 02111 

Email: gbuell@tenlaw.com

Tel: 617-531-3933

 

 

 

Pinterest Inc. IPO Shareholder Investigation (PINS)

By Guillaume Buell, Esq. and Garrett J. Bradley, Esq.

Published on May 27, 2019

Thornton Law Firm LLP announces that it is investigating a potential securities class action on behalf of purchasers of the securities of Pinterest Inc. (NYSE ticker: PINS) pursuant to, or traceable to, the registration statement and prospectus issued in connection with Pinterest’s April 2019 initial public offering (“IPO”). The investigation involves possible violations of the federal securities laws.

If you purchased Pinterest Inc. stock, you may have a claim for damages resulting from misstatements in the Pinterest IPO prospectus and registration statement. If you are interested in pursuing this claim, or to discuss your legal rights, please email shareholder@tenlaw.com, or call 617-531-3933.

If you purchased or otherwise acquired Pinterest stock (NYSE: PINS) pursuant to its IPO, you may have a claim for damages. Please contact the Thornton Law Firm’s shareholder rights team at shareholder@tenlaw.com, or call 617-531-3933.

Thornton Law Firm’s securities attorneys specialize in representing individual shareholders and institutional investors in recovering damages caused by corporate wrongdoing or fraud. Its attorneys have decades of experience litigating securities cases in courts throughout the country and have a proven track record of recovering losses on behalf of shareholders.

Thornton Law Firm Appointed Co-Lead Counsel in Securities Class Action Alleging Misconduct Against Adient plc

By Garrett J. Bradley, Esq. and Guillaume Buell, Esq.

Published on May 15, 2019

Thornton Law Firm has been appointed co-Lead Counsel in a federal securities class action pending against the seat manufacturing company Adient plc, its former CEO, and its CFO. The case is In re Adient plc Securities Litigation., No. 18-cv-9116. The lawsuit is pending in the United States District Court for the Southern District of New York. Thornton Law Firm will aggressively seek to recover investment losses suffered by Adient investors as a result of the Adient defendants’ material misstatements and omissions concerning the Company’s operations and finances. The investigation and lawsuit focuses on misstatements and omissions during the October 2016 to June 2018 time period.

The Thornton Law Firm team litigating this class action is led by attorney Guillaume Buell, who co-chairs the Firm’s securities litigation practice and has an established track record of obtaining favorable results in securities class action. In remarks after the Court’s appointment of Bristol County as Lead Plaintiff and Thornton Law Firm as co-Lead Counsel, Mr. Buell stated: “We look forward to working tirelessly on behalf of the putative class of Adient shareholders the Complaint seeks relief for. Our team is ready to roll up our sleeves and get to work for Adient’s shareholders.” The sentiment was echoed by Thornton Managing Partner Garrett Bradley: “Our Firm is dedicated to investing the resources necessary to investigate this alleged misconduct.”

Thornton Law Firm, based in Boston, Massachusetts and with its second office in Beverly Hills, California, is the preeminent plaintiffs’ law firm in New England. For over four decades, it has tirelessly fought on behalf of injured consumers and shareholders. Its securities litigation team has a proven track record of success in securities litigation. Anyone with questions regarding this litigation, or any other securities or consumer litigation matter, is encouraged to contact the Firm’s class action practice at (617) 720-1333 or shareholder@tenlaw.com. The Firm is presently prosecuting a range of lawsuits arising under the federal securities laws in state and federal courts across the country. For more, visit us at www.tenlaw.com/securities-litigation.

The Boeing Company (BA) Shareholder Investigation: Lawsuit Filed

By Guillaume Buell, Esq. and Garrett  J. Bradley, Esq.

Published on May 10, 2019

Boeing shareholders who purchased or acquired Boeing stock (NYSE ticker: BA) between January 1, 2019 and May 10, 2019, and are interested in learning about their potential rights to recover in a securities class action lawsuit pending against Boeing, please email the Thornton Law Firm at shareholder@tenlaw.com, or call 617-531-3933

Thornton Law Firm LLP is investigating a securities class action on behalf of shareholders and investors who purchased the securities of The Boeing Company (NYSE ticker: BA). The investigation involves possible violations of the federal securities laws by Boeing.

According to the lawsuit, Boeing prioritized profitability ahead of airplane safety. Boeing may have misled investors about the sustainability of Boeing’s core Commercial Airplanes segment by maintaining that the Boeing 737 MAX was a safe airplane. Boeing made these statements all while concealing the full extent of safety problems caused by the placement of larger engines on the 737 MAX that changed the handling characteristics of the 737 MAX from previous models. These handling characteristics included the danger of the increased pitch-up tendencies. These changes required special safety features, some of which Boeing installed only as “extras” or “optional features.”

As a result of Boeing’s alleged misconduct, as the news about Boeing’s alleged misconduct was revealed, Boeing’s (BA) stock plunged nearly $70 per share, from approximately $440 a share to $372 a share, the complaint alleges.

If you purchased or otherwise acquired Boeing stock (NYSE: BA) between January 1, 2019 and May 10, 2019, you may have a claim for damages. Please contact the Thornton Law Firm’s shareholder rights team at shareholder@tenlaw.com, or call 617-531-3933.

Thornton Law Firm’s securities attorneys specialize in representing individual shareholders and institutional investors in recovering damages caused by corporate wrongdoing or fraud. Its attorneys have decades of experience litigating securities cases in courts throughout the country and have a proven track record of recovering losses on behalf of shareholders.

Contact Information:

Guillaume O. Buell
Thornton Law Firm LLP
1 Lincoln Street
Boston, Massachusetts 02111Email: gbuell@tenlaw.comTel: 617-531-3933 
 

 

Apple Inc. Shareholder Investigation: Lawsuit Filed (AAPL)

By Garrett J. Bradley Esq. and Guillaume Buell, Esq.

Published on April 26, 2019

Thornton Law Firm LLP announces that it is investigating a securities class action on behalf of shareholders and investors who purchased the securities of Apple Inc. (NASDAQ ticker: AAPL). The investigation involves possible violations of the federal securities laws by Apple, Timothy Cook, and Luca Maestri. A class action has been filed, and if you are an Apple shareholder interested in learning more, please email shareholder@tenlaw.com, or call 617-531-3933.

According to the lawsuit, Apple and the defendants made materially false and misleading statements regarding Apple’s business and prospects. Specifically, the Complaint alleges that Apple failed to disclose that:

  • the U.S.-China trade war had negatively impacted demand for iPhones and Apple’s pricing power in greater China;
  • due to Apple discounting the cost of replacement batteries to make up for the Company’s prior conduct of intentionally degrading the performance of the batteries in older iPhones, the rate at which Apple customers were replacing their batteries in older iPhones, rather than purchasing new iPhones, was negatively impacting Apple’s iPhone sales growth;
  • as a result of slowing demand, Apple had slashed production orders from suppliers for the new 2018 iPhone models and cut prices to reduce inventory; and
  • Apple’s decision to withhold unit sales for iPhones and other hardware, which was a metric relevant to investors and their view of the Company’s financial performance, was designed to and would mask declines in unit sales of the Company’s flagship product.

As a result of Apple’s alleged misconduct, Apple’s stock plunged more than $15 per share, or more than 9%, from its close of $157.92 per share on January 2, 2019 to close at $142.19 per share on January 3, 2019.

If you purchased or otherwise acquired Apple stock (NASDAQ: AAPL), you may have a claim for damages. Please contact the Thornton Law Firm’s shareholder rights team at shareholder@tenlaw.com, or call 617-531-3933.

Thornton Law Firm’s securities attorneys specialize in representing individual shareholders and institutional investors in recovering damages caused by corporate wrongdoing or fraud. Its attorneys have decades of experience litigating securities cases in courts throughout the country and have a proven track record of recovering losses on behalf of shareholders.

Contact Information:

Guillaume O. Buell
Thornton Law Firm LLP
1 Lincoln Street
Boston, Massachusetts 02111

Email: gbuell@tenlaw.com
Tel: 617-531-3933

Federal Class Action Filed Against Suntrust Banks, Inc. in Georgia Federal Court Seeks Injunctive Relief Related to Alleged Misconduct

By Garrett Bradley, Esq. and Guillaume Buell, Esq.

Published on April 22, 2019

On April 10, 2019, a class action lawsuit was filed against SunTrust Banks, Inc. and numerous individual defendants alleging misconduct in connection with SunTrust’s acquisition by affiliates of BB&T Corporation. The case is a stockholder class action brought on behalf of public stockholders of SunTrust Banks, Inc. against SunTrust and the members of SunTrust’s Board of Directors for their violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 and U.S. Securities and Exchange Commission Rule 14a-9, 17 C.F.R. § 240.14a-9, and to enjoin the vote on the proposed transaction.

The complaint alleges that the Registration Statement, which recommends that SunTrust stockholders vote in favor of the Proposed Transaction, omits or misrepresents material informationconcerning, among other things: (i) SunTrust’s and BB&T’s financial projections relied upon by the Company’s financial advisor, Goldman Sachs & Co. LLC in its financial analyses; (ii) the valuation analyses prepared by Goldman in connection with the rendering of its fairness opinion; and (iii) the background process leading to the Proposed Transaction. The failure to adequately disclose such material information constitutes a violation of Sections 14(a) and 20(a) of the Exchange Act as SunTrust stockholders need such information in order to make a fully informed decision whether to vote in favor of the Proposed Transaction.

The Complaint further alleges that unless remedied, SunTrust’s public stockholders will be forced to make a voting decision on the Proposed Transaction without full disclosure of all material information concerning the Proposed Transaction being provided to them. Plaintiff seeks to enjoin the stockholder vote on the Proposed Transaction unless and until such Exchange Act violations are cured.

The Complaint asserts that injunctive relief pursuant to Section 14(a) is appropriate to ensure defendants’ misconduct is corrected.

Thornton Law Firm is investigating the merits of this matter. Any interested investors may contact the firm’s securities litigation attorneys via email at shareholder@tenlaw.com or calling (617) 720-1333.

Thornton’s securities litigators have extensive experiencing litigating under the Securities Act of 1933 and the Securities Exchange Act of 1934. Congress passed both these laws to protect investors from securities fraud. The basic purpose of the 1934 and 1933 regulatory statutes is to protect investor confidence in the securities markets.

Misconduct Allegations Against YRC Worldwide Inc. Basis of New Securities Class Action

By Garrett Bradley, Esq. and Guillaume Buell, Esq.

Published on April 19, 2019

On January 2, 2019, a class action complaint for violations of the federal securities laws was filed against YRC Worldwide Inc. The complaint alleges that the Defendants misrepresented and failed to disclose the following adverse facts pertaining to the Company’s business, operational and financial results, which were known to Defendants or recklessly disregarded by them. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) from 2005 to at least 2013, YRC Worldwide’s units systematically overcharged the federal government for freight carrier services; (2) this alleged misconduct caused the Department of Defense to overpay by millions of dollars for shipments that were lighter, and thus cheaper, than the weights for which the government was charged; (3) consequently, this alleged misconduct would subject YRC Worldwide to enhanced government scrutiny and liabilities, including potentially owing treble damages under the False Claims Act; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. 

YRC Worldwide provides various transportation services primarily in North America. It operates as a holding company with two reporting segments: YRC Freight (longer haul trucking) and Regional Transportation (regional and next-day delivery markets). The Company is incorporated in Delaware and has facilities throughout the United States, including Albany, New York. The Company’s securities are traded on the NASDAQ under the ticker symbol “YRCW.” 

The lawsuit, with its focus on misconduct allegations, is a federal securities class action on behalf of a class consisting of all persons and entities other than Defendants who purchased or otherwise acquired the publicly traded securities of YRC Worldwide from March 10, 2014 through December 14, 2018, both dates inclusive (the “Class Period”). Plaintiff seeks to recover compensable damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder. 

Thornton Law Firm is investigating the merits of this matter. Any interested investors may contact the firm’s securities litigation attorneys via email at shareholder@tenlaw.com or calling (617) 720-1333. 

Thornton’s securities litigators have extensive experiencing litigating under the Securities Act of 1933 and the Securities Exchange Act of 1934. Congress passed both these laws to protect investors from securities fraud. The basic purpose of the 1934 and 1933 regulatory statutes is to protect investor confidence in the securities markets. 

Securities Class Action Filed Against MobileTeleSystemsPJSC Alleges Overseas Misconduct

By Garrett Bradley, Esq. and Guillaume Buell, Esq.

Posted on April 18, 2019

On March 19, 2019, a class action was filed against MobileTeleSystemsPJSC arising under the federal securities laws regarding the Company’s disclosure on March 19, 2014 that the United States Department of Justice also is conducting a parallel investigation related to the Company’s former operations in Uzbekistan which concerned Mobile and not merely the activities of unaffiliated parties. The extent of the alleged misconduct is still under investigation. It is not known at this time if sanctions will be at issue.

The lawsuit seeks relief on behalf of a class consisting of all persons and entities other than Defendants who purchased or otherwise acquired the publicly traded securities of MobileTeleSystems from March 19, 2014 through March 7, 2019, both dates inclusive. Plaintiff seeks to recover compensable damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The extent of the misconduct at issue has not been fully established.

The Complaint alleges that the Defendants made false and/or misleading statements and/or failed to disclose that: (1) Mobile TeleSystems and its subsidiary were involved in a scheme to pay $420 million in bribes in Uzbekistan; (2) consequently, Mobile TeleSystems knew or should have known it would be forced to pay substantial fines to the U.S. government after disclosing in 2014 that the U.S. DOJ and SEC were investigating its Uzbekistan operations;  (3) Mobile  TeleSystems level  of  cooperation  with  the  U.S.  government  and remediation was lacking; (4) due to the aforementioned misconduct, Mobile TeleSystems would be forced to pay approximately $850 million in criminal penalties to the U.S. government; and(5) due to the foregoing, Defendants’ public statements were materially false and/or misleading at all relevant times.

On November 20, 2018, the Company disclosed that it had reserved approximately $840 million USD (RUB 55.8 bln) as the potential liability concerning investigations by the SEC and the DOJ into its former operations in Uzbekistan. 30. On  this  news, shares of Mobile TeleSystems’ stock  price fell $0.64 per share or nearly 8% to close at $7.45 per share on November 20, 2018.

On March 7, 2019, the DOJ reported that the Company and its subsidiary entered into an agreement to pay $850 million in penalties to the United States to resolve charges arising from its role in a scheme to pay $420 million in bribes in Uzbekistan. On this news, shares in Mobile TeleSystems’ stock fell $0.24 per share or over 3% to close at $7.54 per share on March 7, 2019, damaging investors.

The complaint alleges that as a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiff and other Class members have suffered significant losses and damages.

Thornton’s securities litigators have extensive experiencing litigating under the Securities Act of 1933 and the Securities Exchange Act of 1934. Congress passed both these laws to protect investors from securities fraud. The basic purpose of the 1934 and 1933 regulatory statutes is to protect investor confidence in the securities markets.

Thornton Law Firm is investigating the merits of this matter. Any interested investors may contact the firm’s securities litigation attorneys via email at shareholder@tenlaw.com or calling (617) 720-1333.

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