Connect with us

Business Wire

Glancy Prongay & Murray LLP Files a Securities Class Action on Behalf of Granite Construction Incorporated Investors (GVA)

Business Wire

Published

on

Reading Time: 3 minutes

LOS ANGELES–(BUSINESS WIRE)–$GVAGlancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Northern District of California, captioned Greene v. Granite Construction Incorporated, et al., (Case No. 3:19-cv-04744), on behalf of persons and entities that purchased or otherwise acquired Granite Construction Incorporated (NYSE: GVA) (“Granite” or the “Company”) securities between October 26, 2018 and August 1, 2019, inclusive (the “Class Period”). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).

Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.

If you are a shareholder who suffered a loss, click here to participate.

On July 29, 2019, after the market closed, the Company disclosed that second quarter 2019 financial results were negatively impacted by non-cash charges related to four legacy, unconsolidated heavy civil joint venture projects. As a result, Granite expected to report net loss per diluted share in the range of $2.05 to $2.10 per diluted share.

On this news, the Company’s stock price fell $7.98 per share, or nearly 18%, to close at $36.49 per share on July 30, 2019, on unusually heavy trading volume.

Then on August 2, 2019, before the market opened, the Company announced its second quarter 2019 financial results, reporting revenue of $789.5 million, including $114.2 million in revenue reduction due to the charges disclosed earlier that week.

On this news, the Company’s stock price fell $2.78 per share, or over 8%, to close at $31.22 per share on August 2, 2019, on unusually heavy trading volume.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made 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: (1) that the Company had assumed certain risks in connection with its heavy civil joint venture projects bid between 2012 and 2014; (2) that there was an “untenable” imbalance of risk sharing between the Company and the joint venture project owners; (3) that, as a result, the Company was reasonably likely to incur additional project costs for its joint venture projects; (4) the Company was reasonably likely to incur additional costs in connection with certain project disputes; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects and prospects were materially misleading and/or lacked a reasonable basis.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased Granite securities during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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

Contacts

Glancy Prongay and Murray LLP, Los Angeles

Lesley Portnoy, 310-201-9150 or 888-773-9224

www.glancylaw.com

shareholders@glancylaw.com

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

For the last half century, thousands of communications professionals have turned to us to deliver their news to the audiences most important to their business through the sources they trust most. Over that time, we've gone from a single office with one full time employee to more than 500 employees in 32 bureaus.

Business Wire

Shareholder Alert: Robbins LLP Announces Plantronics, Inc. (PLT) Sued for Misleading Shareholders

Business Wire

Published

on

Reading Time: 2 minutes

SAN DIEGO & SANTA CRUZ, Calif.–(BUSINESS WIRE)–$PLT–Shareholder rights law firm Robbins LLP announces that a purchaser of Plantronics, Inc. (NYSE: PLT) filed a class action complaint against the Company for alleged violations of the Securities Exchange Act of 1934 between July 2, 2018 and November 5, 2019. Plantronics designs, manufactures, and markets various integrated communications and collaborations solutions for corporations, small businesses, and individuals.

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

Plantronics, Inc. (PLT) Accused of Misleading Shareholders

According to the complaint, throughout the relevant period, Plantronics reported increasing net revenues in the hundreds of millions and in August 2019, the Company announced expected revenue between $1.87 and $1.97 billion for fiscal year 2020. However, Plantronics had failed to disclose to investors that the Company had engaged in channel stuffing to artificially boost sales and that the Company lacked internal control over inventory, including an inability to monitor inventory levels ahead of multiple product launches. The adverse impact of these issues became realized on November 5, 2019, when Plantronics disclosed a $65 million reduction in channel inventory “by reducing sales to channel partners” and slashed its fiscal 2020 guidance. On this news, Plantronics’ stock price fell $14.44 per share, nearly 37%, to close at $25.00. The stock has yet to recover.

Plantronics, Inc. (PLT) Shareholders Have Legal Options

Contact us to learn more:

Leo Kandinov

(800) 350-6003

lkandinov@robbinsllp.com
Shareholder Information Form

Robbins 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 LLP

lkandinov@robbinsllp.com
(619) 525-3990 or Toll Free (800) 350-6003

www.robbinsllp.com

Continue Reading

Business Wire

Onset Financial Named a Winner of the Utah Top Workplaces 2019 Award

Business Wire

Published

on

Reading Time: 2 minutes

DRAPER, Utah–(BUSINESS WIRE)–#equipmentleasing–Onset Financial was just named the 14th Best Place to Work in Utah. The Salt Lake Tribune released the list based on employee feedback gathered through a third-party survey administered by research partner Energage, LLC, a leading provider of technology-based employee engagement tools. The anonymous survey measures several aspects of workplace culture, including alignment, execution, and connection, just to name a few.

“The Top Workplaces award is about much more than recognition and celebration,” said Eric Rubino, CEO of Energage. “Our research also shows that these organizations achieve higher referral rates, lower employee turnover, and double the employee engagement levels. It just goes to show that being intentional about culture delivers bottom-line results.”

Onset Financial dedicates time and effort to provide employees with an environment focused on their needs. As a core value, a healthy company culture is crucial to creating a dominating workplace. Onset Financial holds semiannual employee training, provides unlimited free cereal, distributes a hearty amount of company swag, serves catered lunches every Friday and focuses on employee appreciation.

“It’s exciting to be recognized as a top workplace in Utah, and I’m grateful to the members of our team who have put in the time to make Onset the place to be,” said Justin Nielsen, CEO of Onset Financial. “We are experiencing a record year and we know our employees are the biggest reason for this success.”

Most recently, Onset Financial launched Onset Fit. This program offers trainer-led workouts three times a week to employees during their lunch hour.

About Onset Financial, Inc. – Founded in 2008, Onset Financial, Inc. is the industry leader in equipment leasing and financing. Onset’s seasoned Management Team has decades of equipment leasing experience and key industry relationships that enable Onset to offer additional flexibility in lease structuring. For more information please call 801-878-0600 or visit www.onsetfinancial.com.

Contacts

Debbie Worthen

Onset Financial, Inc.

o: 801.878.0600

f: 801.878.0601

dworthen@onsetfinancial.com
www.onsetfinancial.com
Facebook: https://www.facebook.com/OnsetFinancial
Twitter: https://twitter.com/OnsetFinancial
LinkedIn: https://www.linkedin.com/company/onset-financial

Continue Reading

Business Wire

Edgewater Wireless Announces Grant of Stock Options

Business Wire

Published

on

Reading Time: 2 minutes

OTTAWA, Ontario–(BUSINESS WIRE)–#Densification–Edgewater Wireless Systems Inc. (YFI; TSX.V) (OTCQB: KPIFF), the industry leader in Wi-Fi Spectrum Slicing technology for residential and commercial markets, has granted incentive stock options pursuant to its incentive stock option plan to a director of the Company to purchase up to an aggregate of 250,000 common shares in the capital stock of the Company. The options are exercisable at a price of $0.085 per share for a period of ten years from the date of grant. The options will vest over two years, with 33% vesting immediately, 33% vesting on the date that is 12 months from the date of grant and the remaining 34% vesting on the date that is 24 months from the date of grant. The options, and the shares issuable upon exercise, will be subject to applicable securities laws and regulatory hold periods.

About Edgewater Wireless

We make Wi-Fi. Better.

Edgewater Wireless (www.edgewaterwireless.com) is the industry leader in innovative Wi-Fi Spectrum Slicing technology for residential and commercial markets. We deliver advanced silicon solutions, Access Points, and IP licensing designed to meet the high-density and high quality-of-service needs of service providers and their customers. With 24+ patents, Edgewater’s Multi-Channel, Single Radio (MCSR) technology revolutionizes Wi-Fi, delivering next-generation Wi-Fi today.

For more information, visit www.edgewaterwireless.com or www.aera.io.

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. Although Edgewater Wireless believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Edgewater Wireless can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause Edgewater Wireless’ actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to access to capital markets, market forces, competition from new and existing companies and regulatory conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. Edgewater Wireless undertakes no obligation to update publicly or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contacts

Edgewater Wireless Investor Contact:

Andrew Skafel

President and CEO

T: +1 613-271-3710

E: andrews@edgewaterwireless.com
W: www.edgewaterwireless.com

Continue Reading

Font Resizer

Subscribe to PICANTE via Email

Enter your email address to subscribe to PICANTE and receive notifications of new posts by email.

Follow us on Facebook

Read more from our authors

Follow our Tweets

Trending

Please turn AdBlock off