NEW YORK, NY / ACCESSWIRE / August 4, 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.
Enphase Energy, Inc. (NASDAQ:ENPH)
CONTACT JAKUBOWITZ ABOUT ENPH:
Class Period : February 26, 2019 - June 17, 2020
Lead Plaintiff Deadline : August 17, 2020
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.
Casper Sleep Inc. (NYSE:CSPR)
CONTACT JAKUBOWITZ ABOUT CSPR:
in or traceable to the Company's public offering conducted on or around February 7, 2020.
Lead Plaintiff Deadline : August 18, 2020
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Casper's profit margins were actually declining, rather than growing; (2) Casper was changing an important distribution partner, costing it 130 basis points of gross margin in the first quarter of 2020 alone; (3) Casper was holding a glut of old and outdated mattress inventory that it was selling at steeply discounted clearance prices, further impairing the Company's profitability; (4) Casper was suffering accelerating losses, further placing its ability to achieve positive cash flows and profitability out of reach; (5) Casper's core operations were not profitable, but were causing the Company to suffer over $40 million in negative cash flows during the first quarter of 2020 alone and doubling its quarterly net loss year over year; (6) as a result of the foregoing, Casper's ability to achieve profitability, implement its growth initiatives, and expand internationally had been misrepresented in the documents issued in connection with Casper's initial public offering, as the Company needed to shutter its European operations, halt all international expansion, jettison over one fifth of its global corporate workforce, and significantly curtail new store openings in order to avoid an imminent cash and liquidity crisis, let alone achieve positive operating cash flows; and (7) as a result of the foregoing, Casper's revenue growth rate was not sustainable and had not positioned the Company to achieve profitability.
Ideanomics, Inc. (NASDAQ:IDEX)
CONTACT JAKUBOWITZ ABOUT IDEX:
Class Period : March 20, 2020 - June 25, 2020
Lead Plaintiff Deadline : August 27, 2020
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Ideanomics' Mobile Energy Global Division in Qingdao, China (the "MEG Center") was not "a one million square foot EV expo center" as the Company had stated in press releases; (ii) the Company had been using doctored or altered photographs of the purported MEG Center in Qingdao; (iii) the Company's electric vehicle business in China was not performing nearly as strongly as Ideanomics had represented; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
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.
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SOURCE: Jakubowitz Law
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