NEW YORK, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Sogou Inc., Wayfair Inc., DBV Technologies S.A., and Ferroglobe PLC. Stockholders have until the deadlines listed below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Sogou Inc. (NYSE: SOGO)
Class Period: Pursuant and/or traceable to the Initial Public Offering on November 9, 2017
Lead Plaintiff Deadline: March 11, 2019
The complaint alleges that throughout the class period defendants made materially false and misleading statements regarding the company’s business, operational and compliance policies. Specifically, the complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) Chinese regulators were analyzing Sogou for regulatory action because of an increase Sogou merchants’ sales of counterfeit goods; (2) Chinese regulators were analyzing Sogou for regulatory action because Sogou’s existing software, advertising procedures, personnel, and audit procedures were insufficient to safeguard against compliance violations with governing Chinese regulations, and would need to be updated, enhanced, and strengthened, thus resulting in increased expenses; (3) Sogou’s cost of revenues were skyrocketing primarily because of significant increases in Traffic Acquisition Cost, which is a primary driver of Sogou’s cost of revenues, as Sogou was dealing with significant price inflation from increased competition; (4) Sogou was going to alter its strategy concerning smart hardware and push the company’s AI capabilities to increase product competitiveness; (5) as a result of altering its smart hardware strategy, Sogou had already decided to phase out non-AI-enabled hardware products, such as legacy models of Teemo Smart Watch, and transition to use products integrating AI technologies, which Sogou hoped would reduce its hardware revenues in the second half of 2018; and (6) as a result of the foregoing, Sogou’s public statements were materially false and misleading at all relevant times.
To learn more about the Sogou class action go to: http://bespc.com/sogo/ .
Wayfair Inc. (NYSE: W)
Class Period: August 2, 2018 - October 31, 2018
Lead Plaintiff Deadline: March 11, 2019
The complaint alleges that throughout the class period defendants made false and misleading statements to the market. Specifically, the complaint alleges that Wayfair suffered from diminishing demand for its online products and compensated by increased advertisers to drive sales. The company was about one-third of the way through the third quarter of 2018 when it announced its second-quarter results, and by that time, it had already dramatically increased its advertising spending for the quarter. Based on these facts, the company’s public statements were false and materially misleading throughout the class period.
To learn more about the Wayfair class action go to: http://bespc.com/w/ .
DBV Technologies S.A. (NASDAQ: DBVT)
Class Period: February 14, 2018 - December 19, 2018
Lead Plaintiff Deadline: March 18, 2019
The complaint alleges that throughout the class period defendants made false and/or misleading statements and/or failed to disclose that: (1) DBV Technologies’ Biologics License Application (“BLA”) for Viaskin Peanut failed to provide the FDA with sufficient data on manufacturing procedures and quality controls; (2) consequently, DBV Technologies voluntarily withdrew the BLA for Viaskin Peanut; and (3) as a result, defendants’ statements about DBV Technologies’ business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
To learn more about the DBV class action go to: http://bespc.com/dbvt/ .
Ferroglobe PLC (NASDAQ: GSM)
Class Period: August 21, 2018 - November 26, 2018
Lead Plaintiff Deadline: March 25, 2019
The complaint alleges that throughout the class period defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, the complaint alleges that defendants failed to disclose to investors: (1) that there was excess supply of the company’s products; (2) that demand for the company’s products was declining; (3) that, as a result, the pricing of the company’s products would be materially impacted; and (4) that, 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.
To learn more about the Ferroglobe class action go to: http://bespc.com/gsm/ .
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com . Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Melissa Fortunato, Esq. (212) 355-4648 investigations@bespc.com www.bespc.com
