Bragar Eagel & Squire, PC Reminds Investors Class Actions Have Been Filed … | Your money
NEW YORK, September 22, 2021 (GLOBE NEWSWIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that class actions have been filed on behalf of shareholders of AdaptHealth Corp. (NASDAQ: AHCO), Koninklijke Philips NV (NYSE: PHG), PayPal Holdings, Inc. (NASDAQ: PYPL) and The Boston Beer Company, Inc. (NYSE: SAM). Shareholders have until the deadlines below to request the court to act as principal plaintiff. Additional information on each case can be found at the link provided.
AdaptHealth Corp. (NASDAQ: AHCO)
Class period: November 11, 2019 to July 16, 2021
Principal applicant deadline: September 27, 2021
On July 19, 2021, before market hours, Jehoshaphat Research released a report alleging that AdaptHealth is a “roll-up” business, or a business that is built primarily by acquiring small businesses with services or products. common, which masks its growth of “[r]closely changing past organic growth numbers to be higher, without any disclosure of the change. The report also suggested that AdaptHealth’s manipulation of its organic growth path was “a blatant violation of non-GAAP disclosure rules, which companies have enormous problems with.”
At this news, AdaptHealth’s stock price fell $ 1.51 per share, or 5.93%, to close at $ 23.96 per share on July 19, 2021.
The complaint alleges that, throughout the litigation period, the defendants made false and / or misleading statements and / or failed to disclose that: (i) AdaptHealth distorted its organic growth trajectory by retroactively inflating the numbers organic growth passed without disclosing changes, in violation of SEC regulations; (ii) as a result, the Company had substantially overestimated its financial outlook; and (iii) accordingly, the Company’s public statements were materially false and misleading at all relevant times.
For more information on the AdaptHealth class action lawsuit, visit: https://bespc.com/cases/AHCO
Koninklijke Philips NV (NYSE: PHG)
Class period: February 25, 2020 to June 11, 2021
Principal applicant deadline: October 15, 2021
On June 14, 2021, Philips issued a voluntary recall of some of its two-tier PAP and CPAP devices, as well as mechanical ventilators, after discovering that the noise-canceling foam used in the devices could degrade and become toxic, potentially carcinogenic.
Following this news, the Philips share price fell $ 2.25 per share, or 3.98%, to close at $ 54.25 per share on June 14, 2021.
Throughout the Class Period, the Defendants have made materially false and misleading representations regarding the affairs, operations and compliance policies of the Company. Specifically, the Defendants made false and / or misleading statements and / or failed to disclose that: (i) Philips had deficient product manufacturing controls or procedures; (ii) as a result, the Company’s two-stage PAP and CPAP machines and mechanical ventilators were manufactured using hazardous materials; (iii) as a result, the Company’s sales revenues from the aforementioned products were unsustainable; (iv) the foregoing has also subjected the Company to a substantial risk of product recall, in addition to possible legal and / or regulatory action; and (v) accordingly, the Company’s public statements were materially false and misleading at all material times.
For more information on the Koninklijke Philips class action lawsuit, please visit: https://bespc.com/cases/PHG
PayPal Holdings, Inc. (NASDAQ: PYPL)
Course period: September 9, 2017 to July 28, 2021
Principal Applicant Deadline: October 19, 2021
On July 29, 2021, PayPal filed a Quarterly Report on Form 10-Q with the United States Securities and Exchange Commission (“SEC”), outlining the Company’s financial and operating results for the second quarter of 2021. In its quarterly report, PayPal disclosed investigations by the SEC and CFPB. Specifically, PayPal disclosed the receipt of a civil investigation request from the CFPB regarding “the marketing and use of PayPal credit in connection with certain merchants who provide educational services”; and that the Company has “responded to subpoenas and requests for information received from the [SEC] regarding the compliance of the interchange rates paid to the bank that issues the debit cards bearing our licensed marks with Regulation II of the Board of Governors of the Federal Reserve System, and the reporting of marketing expenses generated by the program of company brand cards. “
Following this news, PayPal’s stock price fell $ 18.81 per share, or 6.23%, to close at $ 283.17 per share on July 29, 2021.
The complaint alleges that, throughout the Class Period, the Defendants made materially false and misleading representations regarding the Company’s business, operations and compliance policies. Specifically, the Defendants made false and / or misleading statements and / or failed to disclose that: (i) PayPal had deficient disclosure controls and procedures; (ii) as a result, PayPal’s business practices regarding PayPal Credit have remained inconsistent with applicable laws and / or regulations; (iii) PayPal’s practices regarding the payment of interchange rates related to its debit cards were also inconsistent with applicable laws and / or regulations; (iv) as a result, PayPal’s revenue from its PayPal credit and debit card practices was in part subject to inappropriate and therefore unsustainable conduct; (v) all of the foregoing has placed the Company at increased risk of regulatory investigation and enforcement; and (vi) accordingly, the Company’s public statements were materially false and misleading at all material times.
For more information on the PayPal class action lawsuit, visit: https://bespc.com/cases/PYPL
The Boston Beer Company, Inc. (NYSE: SAM)
Class period: April 22, 2021 to September 8, 2021
Principal applicant deadline: November 15, 2021
On July 22, 2021, after the market closed, Boston Beer lowered its guidance for the year 2021, expecting earnings per share of between $ 18 and $ 22, down from an earlier range of $ 22. and $ 26. The company cited weaker-than-expected sales in the hard salts category and across the beer industry as a whole and also said it had “overestimated the growth of the hard salts category in the second quarter.” . Following this news, the company’s stock price fell $ 246.54, or 26%, to close at $ 701.00 per share on July 23, 2021, on unusually high trading volume.
On September 8, 2021, after the market closed, Boston Beer withdrew its financial guidance for 2021, citing a deceleration in sales of hard Seltzer products. The Company also said it “expects to incur seltzer water-related inventory write-offs, shortfall charges payable to third-party brewers and other costs” for the remainder of the year. 2021. Following this news, the Company’s share price fell $ 21.09, or 3.7%, to close at $ 538.31 per share on September 9, 2021, on unusually high trading volume. raised.
Throughout the Class Period, the Defendants made materially false and / or misleading statements, and failed to disclose material adverse facts regarding the business, operations and prospects of the Company. Specifically, the Defendants did not disclose to investors: (1) that sales of Boston Beer soda water were slowing; (2) that, therefore, Boston Beer was reasonably susceptible to write-offs from inventory; (3) that the Company was reasonably likely to incur loss of earnings charges payable to third party brewers; (4) that as a result of the foregoing, the financial results of Boston Beer would be adversely affected; and (5) that as a result of the foregoing, the Defendants’ positive statements regarding the activities, operations and prospects of the Company were materially misleading and / or lacked reasonable basis.
For more information on the Boston Beer class action lawsuit, visit: https://bespc.com/cases/SAM
About Bragar Eagel & Squire, PC: Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York City, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertising. Past results do not guarantee similar results.
Contact details: Bragar Eagel & Squire, PC Brandon Walker, Esq. Melissa Fortunato, Esq. Marion Passmore, Esq. (212) 355-4648 [email protected]