NEW YORK, NY / ACCESSWIRE / July 22, 2020 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.
ProAssurance Corporation (NYSE:PRA)
CONTACT JAKUBOWITZ ABOUT PRA:
https://claimyourloss.com/securities/proassurance-corporation-loss-submission-form/?id=8110&from=1
Class Period: April 26, 2019 - May 7, 2020
Lead Plaintiff Deadline: August 17, 2020
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) ProAssurance lacked adequate underwriting process and risk management controls necessary to set appropriate loss reserves in its Specialty P&C segment; (ii) ProAssurance failed to properly assess a large national healthcare account that experienced losses far exceeding the assumptions made when the account was underwritten; and (iii) as a result, ProAssurance was subject to materially heightened risk of financial loss and reserve charges.
Chembio Diagnostics, Inc. (NASDAQ:CEMI)
CONTACT JAKUBOWITZ ABOUT CEMI:
https://claimyourloss.com/securities/chembio-diagnostics-inc-loss-submission-form/?id=8110&from=1
Class Period: March 12, 2020 - June 16, 2020
Lead Plaintiff Deadline: August 17, 2020
According to the filed complaint, defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated Chembio's stock price and operated as a fraud or deceit by misrepresenting the efficacy of the Company's Dual Path Platform ("DPP") COVID-19 test. Defendants allegedly achieved this by making false statements about Chembio's DPP COVID-19 test, although they knew or at least recklessly disregarded that there were material performance concerns with the test. When defendants' prior misrepresentations were disclosed and became apparent to the market, the price of Chembio stock fell precipitously as the prior artificial inflation came out of Chembio's stock price.
Casper Sleep Inc. (NYSE:CSPR)
CONTACT JAKUBOWITZ ABOUT CSPR:
https://claimyourloss.com/securities/casper-sleep-inc-loss-submission-form/?id=8110&from=1
in or traceable to the Company's public offering conducted on or around February 7, 2020.
Lead Plaintiff Deadline: August 18, 2020
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Casper's profit margins were actually declining, rather than growing; (2) Casper was changing an important distribution partner, costing it 130 basis points of gross margin in the first quarter of 2020 alone; (3) Casper was holding a glut of old and outdated mattress inventory that it was selling at steeply discounted clearance prices, further impairing the Company's profitability; (4) Casper was suffering accelerating losses, further placing its ability to achieve positive cash flows and profitability out of reach; (5) Casper's core operations were not profitable, but were causing the Company to suffer over $40 million in negative cash flows during the first quarter of 2020 alone and doubling its quarterly net loss year over year; (6) as a result of the foregoing, Casper's ability to achieve profitability, implement its growth initiatives, and expand internationally had been misrepresented in the documents issued in connection with Casper's initial public offering, as the Company needed to shutter its European operations, halt all international expansion, jettison over one fifth of its global corporate workforce, and significantly curtail new store openings in order to avoid an imminent cash and liquidity crisis, let alone achieve positive operating cash flows; and (7) as a result of the foregoing, Casper's revenue growth rate was not sustainable and had not positioned the Company to achieve profitability.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
SOURCE: Jakubowitz Law
View source version on accesswire.com:
https://www.accesswire.com/598501/LAWSUITS-FILED-AGAINST-PRA-CEMI-and-CSPR--JAKUBOWITZ-LAW-PURSUES-SHAREHOLDERS-CLAIMS
