NEW YORK, NY / ACCESSWIRE / August 16, 2020 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
Casper Sleep Inc. (NYSE:CSPR)
in or traceable to the Company's public offering conducted on or around February 7, 2020.
Lead Plaintiff Deadline: August 18, 2020
The CSPR lawsuit alleges Casper Sleep Inc. made materially false and/or misleading statements and/or failed to disclose during the class period that: (1) Casper's profit margins were actually declining, rather than growing; (2) Casper was changing an important distribution partner, costing it 130 basis points of gross margin in the first quarter of 2020 alone; (3) Casper was holding a glut of old and outdated mattress inventory that it was selling at steeply discounted clearance prices, further impairing the Company's profitability; (4) Casper was suffering accelerating losses, further placing its ability to achieve positive cash flows and profitability out of reach; (5) Casper's core operations were not profitable, but were causing the Company to suffer over $40 million in negative cash flows during the first quarter of 2020 alone and doubling its quarterly net loss year over year; (6) as a result of the foregoing, Casper's ability to achieve profitability, implement its growth initiatives, and expand internationally had been misrepresented in the documents issued in connection with Casper's initial public offering, as the Company needed to shutter its European operations, halt all international expansion, jettison over one fifth of its global corporate workforce, and significantly curtail new store openings in order to avoid an imminent cash and liquidity crisis, let alone achieve positive operating cash flows; and (7) as a result of the foregoing, Casper's revenue growth rate was not sustainable and had not positioned the Company to achieve profitability.
Learn about your recoverable losses in CSPR: http://www.kleinstocklaw.com/pslra-1/casper-sleep-inc-loss-submission-form?id=8599&from=1
Co-Diagnostics, Inc. (NASDAQ:CODX)
Class Period: February 25, 2020 - May 15, 2020
Lead Plaintiff Deadline: August 17, 2020
According to the filed complaint, Co-Diagnostics and its directors and officers (including PhD-level scientists who should know better) made continual, knowing, and willful misstatements about the Company's main product, a Covid-19 diagnostic test. These misstatements had the effect of pumping up the price of Co-Diagnostics' stock while Company officers and directors exercised low-priced options and dumped their stock into the market. Co-Diagnostics' fraudulent misstatements displayed a disregard for basic scientific principles and caused investors to lose millions of dollars.
Learn about your recoverable losses in CODX: http://www.kleinstocklaw.com/pslra-1/co-diagnostics-inc-loss-submission-form?id=8599&from=1
Wins Finance Holdings Inc. (NASDAQ:WINS)
Class Period: October 31, 2018 - July 6, 2020
Lead Plaintiff Deadline: September 23, 2020
The WINS lawsuit alleges that Wins Finance Holdings Inc. 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.
Learn about your recoverable losses in WINS: http://www.kleinstocklaw.com/pslra-1/wins-finance-holdings-inc-loss-submission-form?id=8599&from=1
Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: The Klein Law Firm
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