NEW YORK, NY / ACCESSWIRE / July 21, 2020 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you.
Enphase Energy, Inc. (NASDAQ:ENPH)
If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/enphase-energy-inc-loss-submission-form?prid=8075&wire=1
Lead Plaintiff Deadline: August 17, 2020
Class Period: February 26, 2019 - June 17, 2020
Allegations against ENPH include that: (1) its revenues, both U.S. and international, were inflated; (2) the Company engaged in improper deferred revenue accounting practices; (3) the Company's reported base points expansion in gross margins were overstated; and (4) as a result of the foregoing, Defendants' public statements were materially false and misleading at all relevant times.
Chembio Diagnostics, Inc. (NASDAQ:CEMI)
If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/chembio-diagnostics-inc-loss-submission-form?prid=8075&wire=1
Lead Plaintiff Deadline: August 17, 2020
Class Period: March 12, 2020 - June 16, 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)
If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/casper-sleep-inc-loss-submission-form?prid=8075&wire=1
Lead Plaintiff Deadline: August 18, 2020
in or traceable to the Company's public offering conducted on or around February 7, 2020.
Allegations against CSPR include 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.
To learn more contact Vincent Wong, Esq. either via email email@example.com or by telephone at 212.425.1140.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
39 East Broadway
New York, NY 10002
SOURCE: The Law Offices of Vincent Wong
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