CEDARHURST, N.Y., Feb. 11, 2019 (GLOBE NEWSWIRE) — The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff and a preliminary estimate of their recoverable losses.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No classes have yet been certified in the actions below. Appointment as lead plaintiff is not required to partake in any recovery.
The Goldman Sachs Group, Inc. (NYSE: GS)
Investors Affected: February 28, 2014 – December 17, 2018
A class action has commenced on behalf of certain shareholders in The Goldman Sachs Group, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Goldman Sachs participated in a fraud and money-laundering scheme in collusion with 1Malaysia Development Bhd., a Malaysian state-owned investment fund; (2) the foregoing conduct, when revealed, would foreseeably subject Goldman Sachs to heightened regulatory investigations and enforcement; and (3) as a result, Goldman Sachs’s public statements were materially false and misleading at all relevant times.
Tenaris S.A. (NYSE: TS)
Investors Affected: May 1, 2014 – November 27, 2018
A class action has commenced on behalf of certain shareholders in Tenaris SA. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Tenaris’s CEO and Chairman, Paolo Rocca, knew that one of his company’s executives paid cash to government officials from 2009 to 2012 to expedite compensation payments for the sale of Sidor; (2) this conduct would lead to Rocca being charged in a graft scheme, and subject Tenaris, its affiliates, and/or executives to heightened governmental scrutiny; and (3) as a result, Tenaris’s public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
NVIDIA Corporation (NASDAQGS: NVDA)
Investors Affected: August 10, 2017 – November 15, 2018
A class action has commenced on behalf of certain shareholders in NVIDIA Corporation. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) NVIDIA’s growth in its gaming GPU revenue was driven, as repeatedly denied by Defendants, in significant part by the spiked demand for those GPUs among cryptocurrency miners; (ii) NVIDIA did not have, as Defendants asserted, visibility into its inventory channel; (iii) NVIDIA was unable to adapt to the volatility of cryptocurrency markets; (iv) as cryptocurrency prices dropped, NVIDIA hid halting growth from cryptocurrency miners by continuing to push mid-range GPUs into the channel; (v) this would foreseeably cause an oversupply of gaming card inventory levels on the market and ultimately lead to over three months of excess inventory in NVIDIA’s channel; and (vi) as a result, NVIDIA’s public statements were materially false and misleading at all relevant times.
DXC Technology Company (NYSE: DXC)
Investors Affected: February 8, 2018 – November 6, 2018
A class action has commenced on behalf of certain shareholders in DXC Technology Company. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) the Company had changed or planned to change the operations of its sales teams, deploying generalized sales teams as opposed to the specialized teams that were better capable of delivering specialized services to its clients; (b) the Company’s workforce optimization strategy of sharply reducing staff while reducing costs was resulting in a shortage of sales personnel who could execute on demand for services, thereby risking and ultimately losing sales and revenue opportunities; (c) in light of the above, the Company’s revenue and financial performance guidance for the fiscal year 2019 and its reaffirmation of the guidance during the Class Period was without a reasonable basis.
Kuznicki Law PLLC is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company’s stock.
Kuznicki Law PLLC
Daniel Kuznicki, Esq.
445 Central Avenue, Suite 334
Cedarhurst, NY 11516
Phone: (347) 696-1134
Cell: (347) 690-0692
Fax: (347) 348-0967