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Kessler Topaz Meltzer & Check, LLP Announces Investor Securities Fraud Class Action Lawsuit Filed Against CannTrust Holdings Inc.

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RADNOR, Pa.–(BUSINESS WIRE)–$CTST #classaction–The law firm of Kessler Topaz Meltzer & Check, LLP reminds that an investor securities fraud class action lawsuit has been filed against CannTrust Holdings Inc. (NYSE: CTST) (“CannTrust”) on behalf of those who purchased or otherwise acquired CannTrust securities between November 14, 2018 and July 5, 2019, inclusive (the “Class Period”).

CannTrust investors who purchased or otherwise acquired securities during the Class Period may, no later than September 9, 2019, seek to be appointed as a lead plaintiff representative of the class.

Investors who wish to discuss this securities fraud class action lawsuit or request additional information about this litigation are encouraged to contact Kessler Topaz Meltzer & Check attorneys James Maro, Jr. or Adrienne Bell at (844) 887-9500 (toll free) or online at: www.ktmc.com/canntrust-holdings-inc-securities-class-action.

According to the complaint, CannTrust is a licensed producer and distributor of medical and recreational cannabis.

The Class Period commences on November 14, 2018, when CannTrust announced its third quarter 2018 financial results in a press release.

According to the complaint, on July 8, 2019, CannTrust disclosed that its greenhouse facility in Pelham, Ontario is non-compliant with certain regulations, and that CannTrust was growing cannabis in unlicensed rooms between October 2018 and March 2019.

The complaint alleges that, throughout the Class Period, the defendants failed to disclose to investors that: (1) CannTrust was growing cannabis in its Pelham greenhouse while applications for regulatory approval were still pending; (2) CannTrust’s Pelham greenhouse did not comply with certain regulations; (3) as a result, CannTrust was reasonably likely to face an inventory hold by Health Canada until the Pelham facility becomes compliant with applicable regulations; (4) as a result, CannTrust’s customers would face shortages and would likely seek product from CannTrust’s competitors; and (5) as a result of the foregoing, the defendants’ positive statements about CannTrust’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

CannTrust investors may, no later than September 9, 2019, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check, please visit www.ktmc.com.

Contacts

Kessler Topaz Meltzer & Check, LLP

James Maro, Jr., Esq.

Adrienne Bell, Esq.

280 King of Prussia Road

Radnor, PA 19087

(844) 887-9500  (toll free)

(610) 667-7706

info@ktmc.com

 

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Business Wire

Shareholder Alert: Robbins Arroyo LLP Announces NetApp, Inc. (NTAP) Sued for Misleading Shareholders

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SAN DIEGO & SUNNYVALE, Calif.–(BUSINESS WIRE)–$NTAP #classaction–Shareholder rights law firm Robbins Arroyo LLP announces that a purchaser of NetApp, Inc. (NASDAQ: NTAP) filed a class action complaint for alleged violations of the Securities Exchange Act of 1934 between May 22, 2019 and August 1, 2019. NetApp provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide.

If you suffered a loss as a result of NetApp’s misconduct, click here.

NetApp Accused of Misleading Shareholders

According to the complaint, in May 2019, NetApp announced its full year 2019 financial results, touting increases in net revenue and income and an increase of $4.09 in earnings per share. In June 2019, NetApp reaffirmed these results in its Form 10-K, despite also acknowledging risks that could affect its business, including that most of its revenues came from large, recurring purchases from clients and that any cancellations or delays in these purchases could negatively impact NetApp’s revenues. However, what NetApp failed to disclose was that it was already experiencing material negative impacts on its revenue due to the company’s inability to close large deals within the quarter. Then, on August 1, 2019, NetApp revealed the reality of its financial situation when it announced lowered than expected first quarter 2019 adjusted earnings and net revenue and lowered its first quarter 2020 net revenue from a range of $1.315 to $1.465 billion to a range of $1.22 to $1.23 billion and announced its 2020 net revenue was expected to decline between 5% to 10% year-over-year. On this news, NetApp’s share price fell $11.67, or over 20%, to close at $46.04.

NetApp, Inc. (NTAP) Shareholders Have Legal Options

Contact us to learn more:

Leo Kandinov

(800) 350-6003

lkandinov@robbinsarroyo.com

Shareholder Information Form

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click Here to receive free alerts from Stock Watch when companies engage in wrongdoing.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contacts

Leo Kandinov

Robbins Arroyo LLP

5040 Shoreham Place

San Diego, CA 92122

lkandinov@robbinsarroyo.com

(619) 525-3990 or Toll Free (800) 350-6003

www.robbinsarroyo.com

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Business Wire

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of SAExploration Holdings, Inc. Investors (SAEX)

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BENSALEM, Pa.–(BUSINESS WIRE)–$SAEX–Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased SAExploration Holdings, Inc. (“SAExploration” or the “Company”) (NASDAQ: SAEX) securities between March 15, 2016 and August 15, 2019, inclusive (the “Class Period”). SAExploration investors have until October 17, 2019 to file a lead plaintiff motion.

Investors suffering losses on their SAExploration investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On August 15, 2019, SAExploration revealed that certain accounting matters that arose in 2015-2016 were under investigation by the SEC. The Company stated that they would restate its previously issued financial statements for fiscal years 2015 through 2018 and delay filing its 10-Q for the quarter ended June 30, 2019. The Company’s Chief Executive Officer was placed on administrative leave, and its Chief Financial Officer was terminated from his position.

On this news, the Company’s share price fell $1.13 per share, or over 34%, to close at $2.14 per share on August 16, 2019, thereby injuring investors.

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 the Company improperly did not classify Alaska Seismic Ventures, LLC (“ASV”) as a variable interest entity; (2) that the Company had a controlling financial interest in ASV, which required the Company to consolidate ASV in its financial statements; (3) that the Company had deficient internal controls over financial reporting; (4) that these practices were likely to lead to an investigation of the Company by the SEC; (5) that SAExploration would be forced to delay the filing of its quarterly report for the quarter ended June 30, 2019; and (6) that as a result, Defendants’ statements about SAExploration’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

If you purchased SAExploration securities have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

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Business Wire

Thomas Rodriguez Joins Kleinfelder as Executive Vice President and East Division Director

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EXTON, Pa.–(BUSINESS WIRE)–Kleinfelder announced today that Thomas Rodriguez has joined the firm as Executive Vice President and East Division Director. Rodriguez is a results-driven leader with significant experience directing multi-disciplined operations and leading teams to drive profitable growth. Based in Kleinfelder’s Exton office, Rodriguez will oversee operations throughout Kleinfelder’s East Division.

“Tom will be a significant asset to Kleinfelder’s leadership team as we continue to position our business to best capitalize on existing and emerging market opportunities,” commented Louis Armstrong, President. “His diverse skill sets, experience, and knowledge of our markets will be invaluable as he leads our East Division operations in strategic initiatives that drive growth and create new opportunities for our staff.”

An accomplished professional with versatile experience, Rodriguez has a strong technical foundation in addition to a proven track record in operations management, enterprise risk management, business development, and health and safety stewardship. Having successfully led business operations with over 700 staff and over $150 million in sales and revenue, he has achieved tremendous success delivering growth and profitability through portfolio diversification, enterprise-level marketing and sales campaigns, and reduction of project overruns and claims through effective risk management and quality assurance measures. Maintaining a results and people driven leadership style, Rodriguez underscores the importance of cultivating and retaining staff, coaching and developing new leaders, and emphasizing a high quality, safety-first work culture.

“I have known and admired Kleinfelder’s strong work and market position for many years,” said Rodriguez. “Under the current leadership team and capital structure, we are positioned to provide broader services to our clients, greater career opportunities for our staff, and achieve strong, profitable growth in the months and years ahead. I am proud and excited to be joining this team.”

About Kleinfelder

Founded in 1961, Kleinfelder is an engineering, construction management, design and environmental professional services firm. Kleinfelder operates over 60 office locations in the United States, Canada, and Australia. The company is headquartered in San Diego, California.

Contacts

Dustin Esposito

Marketing and Communications Manager

DEsposito@Kleinfelder.com

(617) 498‐4627

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