NEW YORK, Oct. 16, 2019 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announces that class action complaints have been filed on behalf of shareholders of VAL, CADE, and OLLI. If you wish to serve as lead plaintiff, you must move the court by the lead plaintiff deadlines listed below. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you take no action, you may remain an absent class member.
To discuss the cases below please contact Matthew E. Guarnero toll free at (877) 779-1414.
Valaris plc (VAL)
CLASS PERIOD: 04/11/2019 - 07/31/2019
LEAD PLAINTIFF DEADLINE: October 21, 2019
Throughout the Class Period, Defendants made material misstatements and/or failed to disclose that: (i) the Company was plagued by a weak ultra-deepwater segment, massive cash usage, and significant negative cash flow; (ii) the foregoing was reasonably likely to have a material negative impact on the Company’s second quarter 2019 results; (iii) the merger leading to Valaris’s establishment could not deliver on its touted benefits; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Cadence Bancorporation (CADE)
CLASS PERIOD: 07/23/2018-8/1/2019
LEAD PLAINTIFF DEADLINE: November 15, 2019
Throughout the class period Defendants failed to disclose to investors that: (i) Cadence lacked adequate internal controls to assess credit risk; (ii) certain of the Company’s loans posed an increased risk of loss; (iii) as a result, Cadence was reasonably likely to incur significant losses for certain loans; (iv) Cadence’s financial results would suffer a material adverse impact; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Ollie’s Bargain Outlet Holdings Inc (OLLI)
CLASS PERIOD: 06/06/2019-08/28/2019
LEAD PLAINTIFF DEADLINE: November 18, 2019
Defendants failed to disclose to investors that: (i) the Company suffered a supply chain issue that impacted the initial inventory available at new stores; (ii) as a result, the Company lacked sufficient inventory to meet demand at certain store locations; (iii) that, as a result, the Company's comparable store sales were likely to decrease quarter-over-quarter; and (iv) that, as a result of the foregoing, Defendants positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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