Investigation into Corporate Governance of Key Companies
Overview of Corporate Governance Investigations
Johnson Fistel, PLLP, a prominent law firm specializing in shareholders' rights, is currently investigating potential governance issues within multiple companies. These include Telephone and Data Systems, Inc. (TDS), Fluence Energy, Inc. (FLNC), The Bancorp, Inc. (TBBK), and Zynex, Inc. (ZYXI). The firm aims to uncover any violations of federal and state securities laws committed by the companies' officers and directors.
Take Action as a Long-Term Shareholder
If you have been a long-term investor in any of these companies, your insights and experiences may hold significant value. Holding shares continuously since certain dates may grant you the ability to advocate for governance reforms intended to protect your interests as well as those of the companies involved. By participating in this action, you may help forge a pathway for enhanced corporate governance.
Telephone and Data Systems, Inc. (TDS)
For those who have held shares of Telephone and Data Systems continuously since before May 6, 2022, your active involvement can be critical. Previously, a class action lawsuit was filed against TDS, where allegations included misleading statements made about UScellular’s promotional activity. It is posited that these promotions did not effectively reduce churn rates, contrary to what was reported to investors. Consequently, the profitability of UScellular suffered due to excessive promotions with little positive impact.
Fluence Energy, Inc. (FLNC)
Shareholders of Fluence Energy who have maintained their investments since before November 29, 2023, also have the opportunity to influence change. A prior class action complaint alleged that Fluence misrepresented its foundational relationships with Siemens AG and The AES Corporation. The disclosed issues regarding engineering failures and questionable revenue practices could have a profound impact on shareholder value.
The Bancorp, Inc. (TBBK)
For long-term shareholders of The Bancorp, maintaining shares since before January 25, 2024, may provide a platform for engagement. Allegations in a previous lawsuit highlighted that the company may have understated the risks associated with its loan portfolio. This could lead to provision increases for credit losses and have lasting effects on the company's operations and financial stability.
Zynex, Inc. (ZYXI)
Investigating corporate governance at Zynex is crucial for those who have held their investments since before March 13, 2023. Previous lawsuits claim Zynex failed to disclose operational practices that inflated revenues and led to scrutiny from insurers. The ramifications of these practices could result in severe penalties and damage to the company’s reputation.
About Johnson Fistel, PLLP
Johnson Fistel, PLLP is recognized for its commitment to advocating for the rights of shareholders nationwide. The firm's actions reflect its dedication to achieving justice for both individual and institutional investors who may have suffered losses due to corporate mismanagement or negligence.
Achievements of Johnson Fistel, PLLP
In 2024, Johnson Fistel was ranked among the Top 10 Plaintiff Law Firms by a reputable securities law service. The firm has successfully recovered significant sums for its clients, approximately $90 million in total, emphasizing its effectiveness in serving the interests of its clients.
Contact Information
For more information regarding these investigations or legal representation, Johnson Fistel can be reached at:
Johnson Fistel, PLLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations, or Frank J. Johnson, Esq.
(619) 814-4471 | jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
Frequently Asked Questions
What types of investigations is Johnson Fistel conducting?
The firm is investigating potential violations of governance laws at companies like TDS, FLNC, TBBK, and ZYXI.
How can long-term shareholders participate in this action?
Shareholders can engage in governance reform initiatives if they have held shares since specific cutoff dates.
What were the allegations against Telephone and Data Systems?
Previous lawsuits highlighted misleading claims about UScellular's promotional effectiveness that impacted financial outcomes.
How are Fluence Energy's revenue practices being scrutinized?
Allegations indicate that Fluence may have misrepresented the stability of its relationships with major partners, affecting its revenue reporting.
What challenges does The Bancorp face regarding its loan portfolio?
Claims arose that the company understated default risks, potentially leading to larger credit loss provisions.
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