NEW YORK, NY / ACCESSWIRE / October 8, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. To determine your eligibility and get free access to our shareholder support tools that provide you with case updates, automated loss calculations and claims recovery assistance, please contact the firm via the links below. There will be no cost or obligation to you.
DXC Technology Company (NYSE:DXC)
Lawsuit on behalf of: investors who purchased persons and entities that purchased or otherwise acquired DXC Technology Company ("DXC") common stock pursuant and/or traceable to the registration statement and prospectus or other documents issued in connection with the April 2017 transaction by which Hewlett Packard Enterprise Company's Enterprise Services segment was spun off and merged with Computer Sciences Corporation, Inc. to form DXC.
Lead Plaintiff Deadline : November 15, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/dxc-technology-company-loss-form-2?prid=3858&wire=1
According to the filed complaint, (1) the planned "workforce optimization" plan involved implementing arbitrary quotas; (2) the plan would cut thousands of jobs at the Company; (3) jobs that were particularly at risk of being cut were held by longer-tenured, knowledgeable, and highly compensated senior personnel; (4) these job terminations were selectively timed to artificially inflate reported earnings and other financial metrics; (5) at the time of the formation of DXC Technology Company, J. Michael Lawrie (the incoming President, Chief Executive Officer, and Chairman of the Board at DXC) had forecasted plans for a $2.7 billion workforce reduction in the first year; (6) as a result of these workforce terminations, the Company was unlikely to deliver on client contracts; (7) that, as a result of the foregoing, the Company's clients would be dissatisfied and the relationships would be impaired; and (8) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Altria Group, Inc. (NYSE:MO)
Lawsuit on behalf of: investors who purchased December 20, 2018 - September 24, 2019
Lead Plaintiff Deadline : December 2, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/altria-group-inc-loss-form?prid=3858&wire=1
According to the filed complaint, during the class period, Altria Group, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Altria had conducted insufficient due diligence into JUUL prior to the Company's $12.8 billion investment, or 35% stake, in JUUL; (ii) Altria consequently failed to inform investors, or account for, material risks associated with JUUL's products and marketing practices, and the true value of JUUL and its products; (iii) all of the foregoing, as well as mounting public scrutiny, negative publicity, and governmental pressure on e-vapor products and JUUL made it reasonably likely that Altria's investment in JUUL would have a material negative impact on the Company's reputation and operations; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Overstock.com, Inc. (NASDAQ:OSTK)
Lawsuit on behalf of: investors who purchased May 9, 2019 - September 23, 2019
Lead Plaintiff Deadline : November 26, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/overstock-com-inc-loss-form?prid=3858&wire=1
According to the filed complaint, during the class period, Overstock.com, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) it was not true that Overstock would be able to support the launch of its tZERO crypto currency with earnings or cash flow from its retail operations and that whatever marginal improvements defendants had made by cutting costs and engineering earnings could not be sustained so as to generate positive EBITDA or cash from operations necessary to support its crypto currency operations; (b) there were extreme additional risks and substantial volatility in the price of Company shares was foreseeable, given defendants' undisclosed plan to offer its tZERO Preferred Share Dividend as a means to squeeze short sellers out of Overstock and to prevent them from holding legitimate positions in the Company; (c) there was a foreseeable likelihood that the Company's ability to accomplish its intended short squeeze would embolden the SEC or even market participants, such as major brokerage houses, to act to prevent this market manipulation; (d) it was not true that Overstock contained adequate systems of internal operational or financial controls, such that Overstock's quarterly reports filed with the SEC were true, accurate or reliable; (e) as a result of the foregoing, it also was not true that the Company's quarterly reports filed with the SEC were prepared in accordance with GAAP ad SEC rules; and (f) as a result of the aforementioned adverse conditions which defendants failed to disclose, defendants lacked any reasonable basis to claim that Overstock was operating according to plan, or that Overstock could achieve guidance sponsored and/or endorsed by defendants.
You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP
View source version on accesswire.com:
https://www.accesswire.com/562485/CLASS-ACTION-UPDATE-for-DXC-MO-and-OSTK-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders
