Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against AxoGen, Markel, Maxar, and Wirecard and Encourages Investors to Contact the Firm

2/25, 1:08 AM (Source: GlobeNewswire)

NEW YORK, Feb. 24, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of AxoGen, Inc., Markel Corporation, Maxar Technologies Ltd. and Wirecard AG.  Stockholders have until the deadlines listed below to petition the court to serve as lead plaintiff.  Additional information about each case can be found at the link provided.

AxoGen, Inc. (NASDAQ: AXGN)

Class Period: August 7, 2017 - December 18, 2018

Lead Plaintiff Deadline: March 11, 2019

The complaint 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, the complaint alleges that defendants failed to disclose: (1) that the company aggressively increased prices to mask lower sales; (2) that the company’s pricing alienated customers and threatened the company’s future growth; (3) that ambulatory surgery centers form a significant part of the market for the company’s products; (4) that such centers were especially sensitive to price increases; (5) that the company was dependent on a small number of surgeons whom the company paid to generate sales; (6) that the company’s consignment model for inventory was reasonably likely to lead to channel stuffing; (7) that the company offered purchase incentives to sales representatives to encourage channel stuffing; (8) that the company’s sales representatives were encouraged to backdate revenue to artificially inflate metrics; (9) that the company lacked adequate internal controls to prevent such channel stuffing and backdating of revenue; (10) that the company’s key operating metrics, such as number of active accounts, were overstated; and (11) 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.

To learn more about the AxoGen class action go to: http://bespc.com/axgn/.

Markel Corporation (NYSE: MKL)

Class Period: July 26, 2017 - December 6, 2018

Lead Plaintiff Deadline: March 12, 2019

The complaint 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, the complaint alleges that defendants failed to disclose to investors: (1) that the company’s subsidiaries did not appropriately record loss reserves; (2) that, as a result, the loss reserves would need to be adjusted and/or restated; (3) that these misleading accounting practices would lead to regulatory scrutiny and financial loss to investors; and (4) that, as a result of the foregoing, defendant’s positive statements about the company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

To learn more about the Markel class action go to: http://bespc.com/mkl/.

Maxar Technologies Ltd. (NYSE: MAXR)

Class Period: March 29, 2018 - January 7, 2019

Lead Plaintiff Deadline: March 15, 2019

The complaint alleges that throughout the class period defendants made materially false and misleading statements regarding the company’s business, operational, and compliance policies.  Specifically, the complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that:  (1) Maxar improperly inflated the value of its intangible assets, among other accounting improprieties; (2) Maxar’s highly-valued WorldView-4 was equipped with CMGs that were faulty and/or ill-suited for their designed and intended purpose; and (3) as a result, Maxar’s public statements were materially false and misleading at all relevant times.

To learn more about the Maxar class action go to: http://bespc.com/maxr/.

Wirecard AG (Other OTC: WRCDF, WCAGY)

Class Period: April 7, 2016 – February 1, 2019

Lead Plaintiff Deadline: April 9, 2019

The complaint alleges that throughout the class period defendants made false and/or misleading statements and/or failed to disclose that: (1) for the period spanning from 2015 to 2018, a senior Wirecard executive in Singapore had been accused of forging and backdating contracts, including falsifying accounts and money laundering; (2) an external law firm commissioned to investigate Wirecard’s Singapore office had reportedly found evidence of “serious offences of forgery and/or of falsification of accounts”; (3) Wirecard had downplayed weaknesses in its internal controls over financial reporting and failed to disclose the true extent of those weaknesses; and (4) as a result, defendants’ statements about Wirecard’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

To learn more about the Wirecard class action go to: http://bespc.com/wrcdf.

Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation.  For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com.  Attorney advertising.  Prior results do not guarantee similar outcomes. 

Contacts

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com 

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