SHAREHOLDER ALERT: WFC GWRE VEL: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines

NEW YORK, NY / ACCESSWIRE / July 31, 2020 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you.

Wells Fargo & Company (NYSE:WFC)

If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/wells-fargo-company-loss-submission-form?prid=8303&wire=1
Lead Plaintiff Deadline: August 3, 2020
Class Period: April 5, 2020 - May 5, 2020

Allegations against WFC include that: (i) Wells Fargo planned to, and did, improperly allocate government-backed loans under the Paycheck Protection Program ("PPP"), and/or had inadequate controls in place to prevent such misallocation; (ii) the foregoing foreseeably increased the Company's litigation risk with respect to PPP allocation, as well as increased regulatory scrutiny and/or potential enforcement actions; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

Guidewire Software, Inc. (NYSE:GWRE)

If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/guidewire-software-inc-loss-submission-form?prid=8303&wire=1
Lead Plaintiff Deadline: September 23, 2020
Class Period: March 6, 2019 - March 4, 2020

Allegations against GWRE include that: (1) that the Company's transition to the cloud was not going well; (2) that Guidewire's cloud-based products needed to be improved to meet customer needs and catch up with rival systems; (3) that the Company's failed transition to the cloud was also hurting Guidewire's traditional on-premise business; and (4) as a result, Guidewire's revenue guidance, including guidance principally based on significantly increasing demand for the Company's cloud-based products, was baseless and unattainable.

Velocity Financial, Inc. (NYSE:VEL)

If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/velocity-financial-inc-loss-submission-form?prid=8303&wire=1
Lead Plaintiff Deadline: September 28, 2020
This lawsuit is on behalf of investors who purchased VEL stocks pursuant and/or traceable to the Registration Statement and Prospectus, as amended, issued in connection with Velocity's January 2020 initial public offering.

According to the filed complaint, defendants failed to disclose that, at the time of Velocity's initial public offering (the "IPO"), the Company's non-performing loans had dramatically increased in size from the figures provided in the Registration Statement and Prospectus that Velocity had issued in connection with the IPO. Further, defendants failed to provide any information to investors regarding the potential impact of the novel coronavirus on Velocity's business and operations, despite the fact that the international spread of the virus had already been confirmed at the time of the IPO. The failure to disclose the substantial and growing proportion of the Company's loans that were non-performing and/or on non-accrual status as of the IPO rendered the statements contained in the Registration Statement and Prospectus regarding the quality of the Company's loan portfolio and underwriting practices materially misleading.

To learn more contact Vincent Wong, Esq. either via email vw@wongesq.com or by telephone at 212.425.1140.

Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com

SOURCE: The Law Offices of Vincent Wong



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https://www.accesswire.com/599790/SHAREHOLDER-ALERT-WFC-GWRE-VEL-The-Law-Offices-of-Vincent-Wong-Reminds-Investors-of-Important-Class-Action-Deadlines

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