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October 12, 2019
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NEW YORK, NY - (NewMediaWire) - October 12, 2019 - Faruqi (2) that there was an "untenable" imbalance of risk sharing between the Company and the joint venture project owners; (3) that, as a result, the Company was reasonably likely to incur additional project costs for its joint venture projects; (4) the Company was reasonably likely to incur additional costs in connection with certain project disputes; and (5) 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.On July 29, 2019, after the market closed, the Company disclosed that second quarter 2019 financial results were negatively impacted by non-cash charges related to four legacy, unconsolidated heavy civil joint venture projects.On this news, Granite's stock fell from $44.47 on July 29, 2019 to $36.49 on July 30, 2019-a $7.98 or 17.94% drop.On August 2, 2019, before the market opened, the Company announced its second quarter 2019 financial results, reporting revenue of $789.5 million, including $114.2 million in revenue reduction due to the charges disclosed earlier that week.On this news, Granite's stock fell from $34.00 on August 1, 2019 to $31.22 on August 2, 2019-a $2.78 or 8.18% drop.The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Granite's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner
October 12, 2019
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NEW YORK, NY - (NewMediaWire) - October 12, 2019 - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Pluralsight, Inc. (NASDAQ: PS) ("Pluralsight" or the "Company") of the October 15, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.If you invested in Pluralsight stock or options between August 2, 2018 and July 31, 2019 and would like to discuss your legal rights, click here: www.faruqilaw.com/PS. There is no cost or obligation to you.You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail torgonnello@faruqilaw.com.CONTACT:FARUQI & FARUQI, LLP 685 Third Avenue, 26th Floor New York, NY 10017 Attn: Richard Gonnello, Esq. rgonnello@faruqilaw.com Telephone: (877) 247-4292 or (212) 983-9330The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Pluralsight common stock between August 2, 2018 and July 31, 2019 (the "Class Period"). The case, City of Birmingham Firemen's and Policemen's Supplemental Pension System v. Pluralsight, Inc. et al., No. 19-cv-07563 was filed on August 13, 2019. The Company completed its initial public offering ("IPO") in May 2018, whereby it sold 23.8 million shares at a price of $15.00 per share. Less than a year later, Pluralsight completed a secondary public offering ("SPO") on March 6, 2019, whereby it sold 15.6 million shares at a price of $29.25 per share, for gross proceeds of over $450 million.The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that Pluralsight was experiencing substantial delays in hiring and properly training the salesforce necessary to meet its lofty billing projections. In addition, the Company knew at the time of the SPO that it was behind schedule onboarding new sales representatives, which was hurting the Company's sales execution and preventing Pluralsight from meeting its high growth projections. Instead of disclosing such facts at the time of the SPO, and to cash-out at inflated prices, Defendants intentionally obscured and omitted this pertinent information from investors.On July 31, 2019, after market close, Pluralsight announced disappointing financial results for the second quarter ended June 30, 2019, and that its billings growth rate had sharply deteriorated from over 40% to just 23% year-over-year. The Company blamed its declining growth in billings on sales execution challenges and other issues with its salesforce. Pluralsight also disclosed that its Chief Revenue Officer was resigning.On this news, Pluralsight's share price fell from $30.69 per share on July 31, 2019 to a closing price of $18.56 on August 1, 2019: a $12.13 or a 39.52% drop.The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Pluralsight's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
October 12, 2019
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NEW YORK, NY - (NewMediaWire) - October 12, 2019 - Faruqi (2) that, as a result, the Company's revenue would be materially impacted; (3) that, as a result, the Company would lower its fiscal 2020 guidance; 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.On August 1, 2019, after the market closed, the Company reported preliminary first quarter 2019 adjusted earnings per share of $0.55 to $0.60, below the average estimate of $0.83, and net revenue of $1.22 billion to $1.23 billion, below the average estimate of $1.39 billion. Additionally, the Company lowered its 2020 outlook and expected net revenue to decline between 5% and 10% year-over-year.On this news, the Company's stock fell from $57.71 on August 1, 2019 to $46.04 on August 2, 2019- a $11.67 or 20.22% drop.The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding NetApp's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
October 12, 2019
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NEW YORK, NY - (NewMediaWire) - October 12, 2019 - Faruqi (2) the Company had a controlling financial interest in ASV, which required the Company to consolidate ASV in its financial statements; (3) the Company had deficient internal controls over financial reporting; (4) these practices were likely to lead to an investigation of the Company by the SEC; (5) SAExploration would be forced to delay the filing of its quarterly report for the quarter ended June 30, 2019; and (6) as a result, Defendants' statements about SAExploration's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.On August 15, 2019, the Company announced in a press release that the SEC was conducting an investigation into certain accounting matters that arose in 2015-2016. The press release also stated that the Company would restate its previously issued financial statements for fiscal years 2015-2018 and delay filing its 10-Q for the quarter ended June 30, 2019. The Company further announced that it had placed CEO and Chairman Jeffrey Hastings on administrative leave, and had fired CFO and General Counsel Brent Whitely.On this news, SAExploration's share price fell causing harm to investors.The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.Faruqi & Faruqi, LLP also encourages anyone with information regarding SAExploration's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
September 17, 2019
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September 16, 2019
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September 06, 2019
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