BENSALEM, Pa., Jan. 15, 2020 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to [email protected].
Grubhub Inc. (: GRUB)
Class Period: July 30, 2019 - October 28, 2019
Lead Plaintiff Deadline: January 21, 2020
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that customer orders were actually declining, despite the massive investments the Company had made to spur demand for and use of its platform; (2) that Grubhub’s new customer additions were generating significantly lower revenues as compared to historic cohorts because these customers were more prone to using competitor platforms; (3) that Grubhub’s vaunted business model under which it secured exclusive restaurant partnerships had failed, and Grubhub needed to engage in the same aggressive non-partnered sales tactics embraced by its competitors to generate significant revenue growth; (4) that Grubhub was required to spend substantial additional capital in order to grow revenues and retain market share in the face of heightened competitive dynamics and market saturation, eviscerating the Company’s profitability; and (5) that as a result, Grubhub’s public statements were materially false and misleading at all relevant times.
The RealReal, Inc. ( REAL)
Class Period: Pursuant and/or traceable to June 2019 IPO
Lead Plaintiff Deadline: January 24, 2020
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company’s employees received little training on how to spot fake items; (2) that the Company’s strict quotas on its employees exacerbated product authentication issues; (3) that consequently, the potential for counterfeit or mislabeled items to make it through Company’s authentication process was higher than disclosed; and (4) that, as a result, defendants’ statements about RealReal’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Cintas Corp. ( CTAS)
Class Period: March 6, 2017 – November 13, 2019
Lead Plaintiff Deadline: February 10, 2020
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Cintas never tracked legacy margins following the G&K acquisition; (2) that the Company has systematically provided guidance with which it would outperform (a "Beat and Raise" scheme); (3) that undisclosed to the investing public, the Company has breached the law multiple times; (4) that as a result of publicly known and undisclosed breaches of law, the Company's Credit Agreement may be jeopardized; and (5) that, as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.
Forescout Technologies, Inc. ( FSCT)
Class Period: February 7, 2019 - October 9, 2019
Lead Plaintiff Deadline: March 2, 2020
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Forescout was experiencing significant volatility with respect to large deals and issues related to the timing and execution of deals in the Company’s pipeline, especially in Europe, the Middle East, and Africa; (2) that the foregoing was reasonably likely to have a material negative impact on the Company’s financial results; and (3) that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
