CLASS ACTION UPDATE for JMIA, EQBK, AOS and BUD: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

7/3/2019, 3:29 PM (Source: GlobeNewswire)

NEW YORK, July 03, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you.

Jumia Technologies AG (NYSE: JMIA)
Class Period:
Purchasers of American Depositary Shares between April 12, 2019 and May 9, 2019
Lead Plaintiff Deadline: July 15, 2019
Join the action: https://www.zlk.com/pslra-1/jumia-technologies-ag-loss-form?wire=3

Allegations: Jumia Technologies AG made materially false and/or misleading statements and/or failed to disclose that: (a) Jumia had materially overstated its active customers and active merchants; (b) Jumia’s representations about its orders, order cancellations, undelivered orders and returned orders lacked a sufficient factual basis and materially overstated the Company’s sales; (c) Jumia failed to sufficiently disclose related party transactions; and (d) Jumia’s financial statements were presented in violation of applicable accounting standards.

To learn more about the Jumia Technologies AG class action contact jlevi@levikorsinsky.com.

Equity Bancshares, Inc. (NASDAQ: EQBK)
Class Period:
May 11, 2018 - April 22, 2019
Lead Plaintiff Deadline: July 12, 2019
Join the action: https://www.zlk.com/pslra-1/equity-bancshares-inc-loss-form?wire=3

Allegations: Equity Bancshares, Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) the Company lacked adequate internal controls to assess credit risk; (2) as a result, certain of the Company’s loans posed an increased risk of loss; (3) as a result, the Company was reasonably likely to incur significant losses for certain substandard loans; and (4) 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 Equity Bancshares, Inc. class action contact jlevi@levikorsinsky.com.

A. O. Smith Corporation (NYSE: AOS)
Class Period:
July 26, 2016 - May 16, 2019
Lead Plaintiff Deadline: July 29, 2019
Join the action: https://www.zlk.com/pslra-1/a-o-smith-corporation-loss-form?wire=3

Allegations: During the class period, A. O. Smith Corporation made materially false and/or misleading statements and/or failed to disclose that: (a) A.O. Smith had undisclosed business connections and entanglements with UTP through which it funneled up to 75% of its China product sales; (b) A.O. Smith had used UTP to engage in channel stuffing by artificially inflating inventories purportedly sold through distributors that were not based on consumer demand, thereby approximately doubling the normal level of inventory at such distributors; (c) A.O. Smith had used its UTP relationship to artificially inflate the sales figures it reported to investors by as much as 8% and to conceal worsening sales trends that the Company was experiencing in China; (d) A.O. Smith’s sales growth had been primarily in lower margin products as its higher priced products were being undercut by competition in “second-tier” Chinese cities, causing the Company to experience significant margin pressures; (e) A.O. Smith had increased its cash reserves in China to over $530 million in furtherance of its channel stuffing and sales manipulation scheme, encumbering the Company’s ability to repatriate the cash or use it for capital expenditures; and (f) as a result of (a)-(e) above, A.O. Smith’s business, operations, and prospects were significantly worse than publicly represented and the Company was poised for sales and earnings declines in China, its most important international market.

To learn more about the A. O. Smith Corporation class action contact jlevi@levikorsinsky.com.

Anheuser-Busch Inbev Sa/Nv (NYSE: BUD)
Class Period:
March 1, 2018 - October 24, 2018
Lead Plaintiff Deadline: August 20, 2019
Join the action: https://www.zlk.com/pslra-1/anheuser-busch-inbev-sa-nv-loss-form?wire=3

According to the filed complaint, Defendants issued a steady stream of materially false and misleading reassurances about Anheuser Busch’s deleveraging efforts, cost cutting measures, EBITDA growth, the sufficiency of its liquidity and its debt maturity profile during the Class Period. These positive statements by Defendants created a false impression and materially misled investors about the Company’s finances, including the sustainability of Anheuser-Busch’s dividends. Once Defendants chose to speak about Anheuser-Busch’s finances, they had a duty to speak completely and truthfully, including speaking about those factors that were then having a material adverse effect on the Company’s deleveraging efforts.

To learn more about the Anheuser-Busch Inbev Sa/Nv class action contact jlevi@levikorsinsky.com.

You have until the lead plaintiff deadlines to request the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com 

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