NEW YORK, NY / ACCESSWIRE / July 6, 2020 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly-traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
Hallmark Financial Services, Inc. (NASDAQ:HALL)
Investors Affected: March 5, 2019 - March 17, 2020
A class action has commenced on behalf of certain shareholders in Hallmark Financial Services, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company lacked effective internal controls over accounting and financial reporting related to reserves for unpaid losses; (2) the Company improperly accounted for reserve for unpaid losses and loss-adjustment expenses related to its Binding Primary Commercial Auto business; (3) as a result, Hallmark Financial would be forced to report a $63.8 million loss development for prior underwriting years; (4) as a result, Hallmark Financial would exit from its Binding Primary Commercial Auto business; and (5) 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.
Shareholders may find more information at https://securitiesclasslaw.com/securities/hallmark-financial-services-inc-loss-submission-form/?id=7790&from=1
Grand Canyon Education, Inc. (NASDAQ:LOPE)
Investors Affected: January 5, 2018 - January 27, 2020
A class action has commenced on behalf of certain shareholders in Grand Canyon Education, Inc. 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.
Shareholders may find more information at https://securitiesclasslaw.com/securities/grand-canyon-education-inc-loss-submission-form/?id=7790&from=1
Enphase Energy, Inc. (NASDAQ:ENPH)
Investors Affected: February 26, 2019 - June 17, 2020
A class action has commenced on behalf of certain shareholders in Enphase Energy, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) its revenues, both U.S. and international, were inflated; (2) the Company engaged in improper deferred revenue accounting practices; (3) the Company's reported base points expansion in gross margins were overstated; and (4) as a result of the foregoing, Defendants' public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/enphase-energy-inc-loss-submission-form/?id=7790&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm
View source version on accesswire.com:
https://www.accesswire.com/596458/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-HALL-LOPE-and-ENPH
