Colony NorthStar Did Not Disclose Adverse Information Securities Class Action

Colony NorthStar, Inc. is a real estate and investment management company that operates in five segments. The complaint for this class action alleges that the company did not disclose in a timely way adverse information, about the company’s Healthcare and Investment Managements segments, including some units related to its merger, in violation of the Securities  Read more

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Cancer Genetics Improper Recording of Doubtful Collections Securities Class Action

The complaint for this securities class action alleges that Cancer Genetics, Inc. failed to properly account for doubtful collections in some of its accounts, recording them as bad debts when they should have been reductions in net revenue. The complaint says that the improper recording amounts to a violation of the Securities Exchange Act of  Read more

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Ericsson Overstated Revenues and Delayed Expenses Securities Class Action

Telefonaktiebolaget LM Ericsson did not prepare its financial statements according to International Financial Reporting Standards (IFRS), claims the complaint for this securities class action. As a result, it says, it overstated service revenues and improperly delayed reporting at least a billion dollars of expenses on long-term service projects, making its public statements false and misleading  Read more

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Illumina Guidance Fails to Consider Declines Securities Class Action

When Illumina, Inc. came out with two new genetic sequencing instruments that offered “dramatic technology advances” as well as lower costs and more flexibility, it was right to anticipate good sales of these products. However, the complaint for this class action alleges that in predicting revenues for the third quarter of 2016, it ignored their  Read more

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Longfin Stock Quick Rise and Fall Securities Class Action

What should investors think of a company that holds an initial public offering, projects astronomical growth, then admits it lacks even personnel who are skilled in proper reporting? The complaint for this class action alleges that Longfin Corporation stock rose and plunged in a matter of months, based on false impressions of the corporation which  Read more

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Synacor Overestimates Contract Revenues for 2017 Securities Class Action

News of Synacor’s signing of a three-year contract with AT&T, the largest pay TV provider in the US, seemed promising for the company when it was announced in 2016. But the complaint for this class action claims that Synacor did not disclose that the large revenues projected to come from the contract would not show  Read more

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Universal Health Services Fraudulent Insurance Claims Securities Class Action

The complaint for this securities class action alleges that Universal Health Services, Inc. (UHS) “manipulated and fabricated” patient intake assessments, including labeling some patients as suicidal when they were not, in order to make money from their insurance policies. It also claims they were held longer than was medically necessary, in order to make more  Read more

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Dakota Plains Holdings Stock Manipulation Securities Class Action

The complaint for this class action alleges that Ryan R. Gilbertson and Michael L. Reger founded Dakota Plains Holdings in order to run a stock manipulation scheme. The two made all important decisions concerning the company, the complaint said, yet hid the extent of their ownership as well as their roles and their stock manipulation  Read more

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Rent-A-Center New Point-of-Sales System Problems Securities Class Action

When Rent-A-Center, Inc. (RAC) began rolling out its new point-of-sale (POS) computer system in late 2014, it had significant problems and was already outdated, claim confidential witnesses. The complaint for this class action claims that the company knew of problems but did tell investors because it did not want to take a write-down on the  Read more

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Endologix Hid Nellix Device’s Migration in the Body, Says Securities Class Action

Endologix, Inc. makes medical devices to treat aortic aneurysms, which can become fatal if not treated properly. When the class period began for this action began, Endologix’s Nellix device had been in use in Europe for three years, and the company claimed the results there were good. But the complaint claims that Nellix had a  Read more

Model of Nellie Device in the Body