LOS ANGELES, Sep 4, 2020 (GLOBE NEWSWIRE) – Frank R. Cruz's law firm is reminding investors that class action lawsuits have been filed on behalf of the shareholders of the following publicly traded companies. Investors have until the deadlines set out below to file a motion from the lead plaintiff.
Investors suffering losses on their investments are encouraged to contact the Frank R. Cruz law firm at 310-914-5007 or email firstname.lastname@example.org for their statutory rights in these class actions to discuss.
Braskam S.A. (NYSE: BAK)
Classes: May 6, 2016 – July 8, 2020
Deadline of the main plaintiff: October 26, 2020
Shareholders with a loss of $ 50,000 or more are encouraged to contact the company
The complaint filed in this class action alleges that throughout the class period, defendants made materially false and / or misleading statements and did not disclose material adverse facts about the business, business and prospects of the company. In particular, Defendants have failed to advise investors: (1) that Braskem's salt mining was unsafe and posed a significant threat to surrounding areas, including nearly two thousand properties; (2) that the foregoing is foreseeable to increase the risk that Braskem will be exposed to remedial action, including, but not limited to, increased government and / or regulatory oversight or enforcement, significant monetary and reputational damage, and / or the permanent closure of one or more of its Salt mining; (3) that accordingly, Braskem's salt mining revenues were unsustainable; (4) that Braskem downplayed the actual scope and severity of the company's liability in relation to its salt mining; and (5) that as a result, the Company's public statements have been materially false and misleading at all relevant times.
Progenity, Inc. (NASDAQ: PROG)
Class period: IPO in June 2020
Deadline of the main plaintiff: October 27, 2020
The complaint filed in this class action alleges that the defendants made materially false and / or misleading statements and failed to disclose material adverse facts about the company's business, business and prospects. Specifically, Defendants have failed to advise investors: (1) that Progenity overburdened government debtors by $ 10.3 million in 2019 and early 2020, significantly increasing their revenue, profits and operating cash flows for the historical financial periods reported in the United States had overrated registration statement; (2) that Progenity would have to reimburse this overpayment in the second quarter of 2020 (the same quarter that the IPO was conducted), which will adversely affect quarterly results; and (3) that Progenity suffered in the second quarter of 2020 as the Company's negative trends in test volume, revenue, and product prices accelerated.
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To be a member of these class actions, you do not need to take any action at this point. You can keep an attorney of your choice or you can take no action and remain an absent member of the class action. If you would like to learn more about this class action lawsuit, or if you have any questions about this announcement or your rights or interests in relation to these matters, please contact Frank R. Cruz of the Frank R. Cruz law firms, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067, 310-914-5007, via email to email@example.com or visit our website at www.frankcruzlaw.com. When inquiring by email, please include your mailing address, telephone number and number of shares purchased.
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The Frank R. Cruz Law Firms, Los Angeles
Frank R. Cruz, 310-914-5007