Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against StoneCo, Citrix Systems, Tenet Fintech, and Playtika and Encourages Investors to Contact the Firm

1/5, 3:00 AM (Source: GlobeNewswire)

NEW YORK, Jan. 04, 2022 (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 StoneCo, Ltd. (NASDAQ: STNE), Citrix Systems, Inc. (NASDAQ: CTXS), Tenet Fintech Group, Inc. (formerly: Peak Fintech) (OTCMKTS: PKKFF), and Playtika Holdings Corp. (NASDAQ: PLTK). 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.

StoneCo, Ltd. (NASDAQ: STNE)

Class Period: May 11, 2021 – November 16, 2021

Lead Plaintiff Deadline: January 18, 2022

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 StoneCo was experiencing difficulties in implementing its credit product; (2) that StoneCo faced significant risks via its point-of-sale vendor, PAX Global Technology Ltd.; (3) that, as a result of the foregoing, the Company’s financial results would be adversely impacted; and (4) 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.

For more information on the StoneCo class action go to: https://bespc.com/cases/STNE

Citrix Systems, Inc. (NASDAQ: CTXS)

Class Period: January 22, 2020 – October 6, 2021

Lead Plaintiff Deadline: January 18, 2022

According to the Complaint, the Company made false and misleading statements to the market. The cloud product offered by Citrix was substantially similar to its on-premise offering. The Company struggled to transition customers from on-premise service to cloud offerings. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period.

For more information on the Citrix Systems class action go to: https://bespc.com/cases/CTXS

Tenet Fintech Group, Inc. (formerly: Peak Fintech) (OTCMKTS: PKKFF)

Class Period: September 2, 2021 – October 13, 2021

Lead Plaintiff Deadline: January 18, 2022

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) Tenet Fintech did not own 51% of Asia Synergy Financial Capital Ltd. (“ASFC”) through Wuxi Aorong; (2) Tenet Fintech did not disclose its actual ownership structure of ASFC, an undisclosed and potentially problematic nominee shareholder agreement; (3) Huayan did not own the Heartbeat platform; (4) the Heartbeat platform did not exist prior to the alleged acquisition; (5) Tenet Fintech faced imminent delisting from NASDAQ due to non-compliance with known regulations; (6) the “recent disclosure guidance” was in fact published on November 23, 2020, nearly a full nine months prior to Tenet Fintech’s uplisting; (7) as such, Tenet Fintech knew or should have known that its 40-F submission was deficient; (8) Cubeler historically failed to make even minimum loan repayments to Tenet Fintech; (9) Tenet Fintech, instead of exercising its right on the assets, decided to purchase Cubeler; (10) in light of the foregoing, and in consideration of the fact that Cubeler is owned by several Tenet Fintech insiders, the Company’s acquisition of Cubeler is not based on legitimate business interests; (11) there is no evidence Huayan ever owned the Heartbeat platform or that it transferred the asset to Huike; (12) the largest ASFC shareholder had his shares frozen due to court sanctions; and (13) the creation of ASFC itself was likely a related-party transaction. When the true details entered the market, the lawsuit claims that investors suffered damages.

For more information on the Tenet Fintech class action go to: https://bespc.com/cases/PKKFF

Playtika Holdings Corp. (NASDAQ: PLTK)

Class Period: January 15, 2020 IPO; January 15, 2021 – November 2, 2021

Lead Plaintiff Deadline: January 24, 2022

The complaint filed alleges that the 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 made false and/or misleading statements and/or failed to disclose that: (i) the Company’s year-over-year total costs and costs related to sales & marketing and research & development were on track to rise significantly by the third quarter of 2021; (ii) the success of the Company’s game portfolio was less sustainable than the Company had represented; (iii) the foregoing issues were likely to negatively impact the Company’s revenue and earnings; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

For more information on the Playtika class action go to: https://bespc.com/cases/PLTK

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. 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.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com


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