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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Gulfport Energy, RTI Surgical Holdings, HF Foods, and VMware and Encourages Investors to Contact the Firm

May 06, 2020 | About:

NEW YORK, May 06, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Gulfport Energy Corporation ( GPOR), RTI Surgical Holdings, Inc. ( RTIX), HF Foods Group, Inc. ( HFFG), and VMware, Inc. (: VMW). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

Gulfport Energy Corporation ( GPOR)

Class Period: May 3, 2019 and February 27, 2020

Lead Plaintiff Deadline: May 18, 2020

Gulfport engages in the exploration, development, acquisition, and production of natural gas, crude oil, and natural gas liquids in the U.S.

On February 27, 2020, Gulfport disclosed that its previously issued financial statements for the three and nine months ended September 30, 2019, “should no longer be relied upon due to material misstatements.” Gulfport further advised investors that “the Company has reassessed its conclusions regarding its disclosure controls and procedures as of September 30, 2019 in light of the misstatements,” and, “[a]s a result, the Company has determined that a material weakness in internal control over financial reporting existed as of September 30, 2019, and therefore the Company has concluded that its disclosure controls and procedures as of September 30, 2019 were not effective.”

On this news, Gulfport’s stock price fell $0.08 per share, or 8.89%, to close at $0.82 per share on February 28, 2020.

The complaint, filed on March 17, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business and operations. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) a material weakness existed in Gulfport’s internal control over financial reporting; (ii) accordingly, Gulfport’s disclosure controls and procedures were ineffective; (iii) as a result, Gulfport’s financial statements contained multiple misstatements; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

For more information on the Gulfport class action go to: https://bespc.com/GPOR

RTI Surgical Holdings, Inc. ( RTIX)

Class Period: March 7, 2016 to March 16, 2020

Lead Plaintiff Deadline: May 22, 2020

On March 16, 2020, RTI announced in a press release that it would file a Form 12b-25 with SEC due to its inability to timely file its Form 10-K for the fiscal year ended December 31, 2019. The Company disclosed that the cause of the delay was that its Audit Committee was investigating the Company’s revenue recognition practices.

On this news, RTI’s shares fell $0.40 per share or over 14.55% to close at $2.35 per share on March 17, 2020.

The complaint, filed on March 23, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company inappropriately recognized revenues with respect to certain contractual arrangements, including other equipment manufacturer customers; (2) the Company’s internal controls over financial reporting were not effective; (3) as a result, the Company would be forced to delay the filing of its Form 10-K for fiscal year ended December 31, 2019; and (4) 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.

For more information on the RTI class action go to: https://bespc.com/RTIX

HF Foods Group, Inc. ( HFFG)

Class Period: August 23, 2018 to March 23, 2020

Lead Plaintiff Deadline: May 28, 2020

On March 23, 2020, Hindenburg Research published a report explaining that HF Foods had, among other issues, failed to disclose: (i) transactions with related-parties; (ii) its flagrant misuse of shareholder funds; and (iii) its gaming of the FTSE/Russell Index criteria.

On this news, shares of HF Foods fell $2.52 per share, or over 20%, to close at $9.80 per share on March 23, 2020.

The complaint, filed on March 29, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) HF Foods engaged in undisclosed related party transactions; (2) HF Foods insiders and related parties were enriching themselves by misusing shareholder funds; (3) HF Foods was “gaming” the FTSE/Russell Index by masking the true number of shares free floating; and (4) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.

For more information on the HF Foods class action go to: https://bespc.com/HFFG

VMware, Inc. (: VMW)

Class Period: March 3, 2019 to February 27, 2020

Lead Plaintiff Deadline: June 1, 2020

On February 27, 2020, VMWare filed a Current Report on Form 8-K with the SEC, disclosing an SEC investigation into the Company’s backlog of unfilled orders. Specifically, that Form 8-K advised investors that “[i]n December 2019, the staff of the Enforcement Division of the [SEC] requested documents and information related to VMware’s backlog and associated accounting and disclosures.” The Form 8-K also advised investors that, although “VMware is fully cooperating with the SEC’s investigation,” it was “unable to predict the outcome of this matter at this time.”

On this news, VMware’s stock price fell $15.11 per share, or 11.14%, to close at $120.52 per share on February 28, 2020.

The complaint, filed on March 31, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) VMware’s reporting with respect to its backlog of unfilled orders was not in compliance with all relevant accounting and disclosure requirements; (ii) the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny and/or investigation; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

For more information on the VMware class action go to: https://bespc.com/VMW

About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
[email protected]
www.bespc.com

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