Chronicle Journal: Finance

The Gross Law Firm Announces Class Actions on Behalf of Shareholders of NSP, WINS and UCO

NEW YORK, NY / ACCESSWIRE / August 6, 2020 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly-traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

Insperity, Inc. (NYSE:NSP)

Investors Affected: February 11, 2019 - February 11, 2020

A class action has commenced on behalf of certain shareholders in Insperity, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) the Company had failed to negotiate appropriate rates with its customers for employee benefit plans and did not adequately disclose the risk of large medical claims from these plans; (b) Insperity was experiencing an adverse trend of large medical claims; (c) as a mitigating measure, the Company would be forced to increase the cost of its employee benefit plans, causing stunted customer growth and reduced customer retention; and (d) the foregoing issues were reasonably likely to, and would, materially impact Insperity's financial results.

Shareholders may find more information at https://securitiesclasslaw.com/securities/insperity-inc-loss-submission-form/?id=8414&from=1

Wins Finance Holdings Inc. (NASDAQ:WINS)

Investors Affected: October 31, 2018 - July 6, 2020

A class action has commenced on behalf of certain shareholders in Wins Finance Holdings Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the ultimate repayment of the RMB 580 million Guohong Loan was highly uncertain; (ii) nonpayment of the Guohong Loan would have a significant impact on the Company's financial and operating condition; (iii) weaknesses in Wins's internal control over its financial reporting persisted despite the Company's repeated assurances to investors that it was taking steps to remediate these weaknesses; (iv) the foregoing issues, among others, made the resignation of Wins's independent auditor foreseeably likely; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/wins-finance-holdings-inc-loss-submission-form/?id=8414&from=1

Proshares Ultra Bloomberg Crude Oil (NYSE:UCO)

Investors Affected: March 6, 2020 - April 27, 2020

A class action has commenced on behalf of certain shareholders in Proshares Ultra Bloomberg Crude Oil. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) decreased demand for oil due to the coronavirus pandemic and increased oil supply and diminished oil prices caused by the Russia/Saudi oil price war had caused extraordinary market volatility; (2) a massive influx of investor capital into the Fund, totaling hundreds of millions of dollars, in a matter of days had increased Fund inefficiencies, heightened illiquidity in the West Texas Intermediate ("WTI") futures contract markets in which the Fund invested, and caused the Fund to approach positional and regulatory limits (adverse trends exacerbated by the Offering itself); (3) there was a sharp divergence between spot and future prices in the WTI oil markets, leading to a super contango market dynamic as oil storage space in Cushing, Oklahoma dwindled and was insufficient to account for the excess supply expected to be delivered pursuant to the WTI May 2020 futures contract. As a result, UCO could not continue to pursue the passive investment strategy represented in the Registration Statement, causing its results to significantly deviate from its purported benchmark.

Shareholders may find more information at https://securitiesclasslaw.com/securities/proshares-ultra-bloomberg-crude-oil-loss-submission-form/?id=8414&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm



View source version on accesswire.com:
https://www.accesswire.com/600620/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-NSP-WINS-and-UCO

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