BENSALEM, Pa., July 15, 2020 (GLOBE NEWSWIRE) — Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to [email protected].
Ryder System, Inc. (NYSE: R)
Class Period: July 23, 2015 – February 13, 2020
Lead Plaintiff Deadline: July 20, 2020
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company’s financial results were inflated as a result of the Company’s practice of overstating the residual values of the vehicles in its fleet because there was no reasonable basis to believe that the Company would sell its used vehicles for the amounts that it had assigned to them; and (2) that, as a result, the Company’s residual values for its fleet of vehicles exceeded the expected future values that would be realized upon the sale of those vehicles by such a degree that the Company ultimately took a $357 million depreciation charge in 2019 related to Ryder’s reduction of its residual values to align them with the amounts for which they could realistically be sold.
Ideanomics, Inc. (NASDAQ: IDEX)
Class Period: March 20, 2020 – June 25, 2020
Lead Plaintiff Deadline: August 27, 2020
The complaint filed in this class action 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, Defendants failed to disclose to investors: (1) that Ideanomics’ MEG Center in Qingdao was not “a one million square foot EV expo center”; (2) that the Company had been using doctored or altered photographs of the purported MEG Center in Qingdao; (3) that the Company’s electric vehicle business in China was not performing nearly as strong as Ideanomics had represented; and (4) that, as a result, the Company’s public statements were materially false and misleading at all relevant times.
Kirkland Lake Gold Ltd. (NYSE: KL)
Class Period: January 8, 2018 – November 25, 2019
Lead Plaintiff Deadline: August 28, 2020
The complaint filed in this class action 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, Defendants failed to disclose to investors: (1) that Kirkland lacked adequate internal controls over financial reporting, especially as it relates to its projections of risks, reserve grade, and all-in sustaining costs; (2) that as a result of the known, but undisclosed, impending acquisition of Detour Gold Corporation, the Company’s projections relating to its risks, reserve grade, and all-in sustaining costs were false and misleading; (3) that the Company’s financial statements and projections were not fairly presented in conformity with International Financial Reporting Standards; and (4) that based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company’s business, operations, and prospects and/or lacked a reasonable basis and omitted material facts.
Kingold Jewelry, Inc. (NASDAQ: KGJI)
Class Period: March 15, 2018 – June 28, 2020
Lead Plaintiff Deadline: August 31, 2020
The complaint filed in this class action 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, Defendants failed to disclose to investors: (1) that Kingold used fake gold as collateral to fraudulently secure loans; (2) that consequently, the Company would face creditor lawsuits and be delisted from the Shanghai Gold Exchange; and (3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com