MERION, Pa., June 6, 2016
/PRNewswire-USNewswire/ -- The Law Offices of Marc S. Henzel (www.henzellaw.com), a firm
focusing on shareholder litigation, gives notice to shareholders of
investigation into the following securities for violations of the
Federal Securities Laws:
Ability, Inc. (Nasdaq: ABIL) 9/8/15 thru 4/29/16
On May 2, 2016, Ability announced
its financial results for the fourth quarter and full-year 2015.
The Company also announced that it would be restating its
consolidated financial statements as of December 31, 2014 and for the two years in the
period then ended. In reaction to these announcements, on
May 2, 2016, the price of Ability
common stock fell $2.42 per share, or
33%, to close at $4.90 per share, on
heavy trading volume.
If you purchased or otherwise acquired Ability Inc. securities
between September 8, 2015
thru April 29, 2016, please contact the firm.
Endo International plc (Nasdaq: ENDP)
3/2/15 thru 5/6/16
On May 5, 2016, Endo announced its
financial and operating results for the quarter ended March 31, 2016. Endo reported a loss of
$0.40 per diluted share, down from
earnings of $0.11 per share in the
first quarter of 2015. Additionally, Endo significantly cut its
2016 guidance, announcing targeted revenue in the range of
$3.87 billion to $4.03 billion, down
from the range of $4.32 billion to $4.52
billion that the Company had reaffirmed in March, less than
two months earlier. Concurrently, the Company announced changes to
its board and management structure, including the resignation of
Brian Lortie, President of the
Company's U.S. Branded Pharmaceuticals segment, pending selection
of his replacement. On this news, Endo's stock price fell
$10.42 per share, or 39%, to close at
$16.17 per share on May 6, 2016.
Then on May 6, 2016, after the
market closed, Endo filed its Form 10-Q for the quarter ended
March 31, 2016. In the 10-Q, Endo
reiterated the financial and operating results announced the
previous day. Endo's stock price fell an additional $0.90 per share, or more than 5%, to close at
$15.27 per share on May 9, 2016, the next trading day. In total,
between May 5, 2016 and May 9, 2016, the Company's stock price fell
$11.32 per share, or more than
42%.
If you purchased or otherwise acquired Endo International plc
securities between March 2, 2015 to
May 6, 2016, please contact the
firm.
Gerdau S.A. (NYSE: GGB) 6/2/11 thru 5/15/16
On February 29, 2016, Gerdau
announced that it would delay the release of its fourth quarter
financial results as the Company "analyze[d] the case records
involving Gerdau in the recent phase of [the] Zelotes
Operation."
Then on May 16, 2016, various news
outlets reported that Brazil's
federal police had accused Gerdau of evading $9 million in taxes and indicted a total of 19
Gerdau employees, including defendant Johannpeter and some of the
Company's executives, directors and lawyers, on corruption related
charges, including bribery, money laundering and influence
peddling. On this news, the price of Gerdau ADRs fell $0.13, or over 7%, to close at $1.72 per ADR on May 16,
2016.
If you purchased or otherwise acquired Gerdau S.A. securities
between June 2, 2011 thru
May 15, 2016, please contact the
firm.
HCP Inc. (NYSE: HCP) 3/30/15 thru
2/8/16
On April 21, 2015, HCP disclosed
that the DOJ had intervened in three whistleblower lawsuits and had
filed a consolidated complaint. Then, on May
5, 2015, HCP disclosed that it had recorded a non-cash
impairment charge of $478 million
related to certain of its lease arrangements with ManorCare.
Finally, on February 9, 2016, HCP
disclosed that its equity stake in ManorCare had been written down
to zero, and that it had taken an $836
million non-cash impairment on its ManorCare lease assets
and placed all of its ManorCare real estate assets on a "Watch
List." As a result of this news, the price of HCP stock fell 17% in
one day, falling from a close of $33.99 per share on February 8, 2016 to a close of $28.33 per share on February 9, 2016.
If you purchased or otherwise acquired HPC Inc. securities
between March 30 2015 thru
February 8, 2016, please contact
the firm.
NewLink Genetics Corporation (Nasdaq: NLNK) 9/17/13 thru 5/9/16
On May 11, 2015, NewLink announced
that algenpantucel-L had "'the potential to be the first and only
FDA approved drug for resected pancreatic cancer,'" and that its
"'fast-track status, orphan drug designation and [Special Protocol
Assessment] g[a]ve [NewLink] continued confidence in [its]
regulatory strategy. With this in mind, [NewLink was] thoughtfully
preparing for regulatory filings and commercial activities
associated with the potentially positive outcome of the trial.'" As
a result of defendants' false and/or misleading statements during
the Class Period, NewLink securities traded at artificially
inflated prices, with its stock price reaching over $56 per share.
Then on May 9, 2016, after the
market closed, NewLink announced that algenpantucel-L did not meet
the main goal in the Company's Phase 3 IMPRESS study. Patients
treated with algenpantucel-L lived for a median of 27.3 months in
NewLink's Phase 3 trial compared to median survival of 30.4 months
for patients treated with standard therapy, suggesting that
patients were actually being harmed by NewLink's treatment. On this
news, NewLink's stock price fell $5.05 per share, or 30%, to close at $11.45 per share on May
10, 2016.
If you purchased or otherwise acquired NewLink Genetics
Corporation securities between September 17,
2013 thru May 9,
2016, please contact the firm.
Tangoe Inc. (Nasdaq: TNGO)
3/18/14 thru 3/7/16
After the market closed on March 7,
2016, the Company issued a press release announcing that it
would restate its financial statements. The release stated that
"the Company will restate its financial statements for the years
2013 and 2014, all quarters therein, and the first 3 quarters of
2015." The Company also stated that it did not expect to file its
Annual Report on Form 10-K by the scheduled date, and that
"[i]nvestors should no longer rely upon the Company's previously
released financial statements for the time periods cited . . . or
on the earnings releases for these periods; reports by BDO
USA, LLP – the Company's
independent registered public accounting firm ("BDO") – on such
financial statements, including its reports on the Company's
internal controls over financial reporting; and other
communications relating to these financial statements." The Company
stated that the restatement was based on its "conclusion that it
made errors in recognizing revenue, primarily form business
activities that are ancillary to the Company's core business,"
including "non-recurring revenue from strategic consulting and bill
audit services with contingent fee arrangements." As a result of
this announcement, the price of Tangoe shares fell 9% to close at
$7.75 per share on March 8, 2016.
If you purchased or otherwise acquired Tangoe, Inc. securities
between March 18, 2014 thru
March 7, 2016, please contact
the firm.
Unilife Corporation (Nasdaq: UNIS)
2/23/14 thru 5/23/16
On May 8, 2016, the Company
disclosed that it was postponing its earnings conference call,
originally scheduled for May 9, 2016,
due to the discovery of violations of Company policies and
procedures and possible violations of laws and regulations by the
Company's "former Chief Executive Officer" and by the "former
Chairman of the Company's Board of Directors who resigned in 2015."
The Company also announced that it was investigating the issues'
potential impact on financial reporting and internal controls over
financial reporting, related to the Company's previously-issued
financial statements, current interim financial information, and
management's certifications. Finally, the Company disclosed that it
expected to delay filing its quarterly Form 10-Q for the period
ended March 31, 2016.
On this news, the Company's stock price fell $1.50 per share, or more than 29%, to close at
$3.60 per share on May 9, 2016, on unusually heavy trading
volume.
If you purchased or otherwise acquired Unilife Corporation
securities pursuant to the February 23,
2014 thru May 23,
2016, please contact the firm.
If you would like to learn more about the investigation of these
companies, would like to learn more about any potential claims or
you wish to discuss these matters and have any questions concerning
this announcement or your rights, please contact Marc S. Henzel (610) 660-8000, email at
Mhenzel@Henzellaw.com, or to sign up online, visit the firm's
website at www.henzellaw.com.
The Law Offices of Marc S. Henzel
is a national shareholder litigation firm representing shareholders
& investors in various areas of securities laws including but
not limited to: class actions, derivatives, transactional
(buyouts/takeovers/mergers) and FINRA & NYSE Arbitrations.
Contact:
Law Offices of Marc S. Henzel
Marc S. Henzel
Email: Mhenzel@Henzellaw.com
Phone 610-660-8000
Website: www.henzellaw.com
LAW OFFICES OF MARC S. HENZEL
MERION STATION, PA 19066
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