News
CLASS ACTION UPDATE for PDD, ORCL and LOGM: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, Sept. 30, 2018 — Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you.
Pinduoduo Inc. (NASDAQ: PDD) Class Period: Pursuant to the July 26, 2018 initial public offering and/or between July 26, 2018 and July 31, 2018 Lead Plaintiff Deadline: October 22, 2018 Join the action: https://www.zlk.com/pslra-1/pinduoduo-inc-loss-form?wire=3
About the lawsuit: Pinduoduo Inc. allegedly made materially false and/or misleading statements during the class period and/or failed to disclose that: (i) Pinduoduo’s controls were ineffective to prevent third-party vendors from selling counterfeit goods on the Company’s online platform; (ii) consequently, Pinduoduo’s revenues and the number of active merchants using its platform were traceable in part to unlawful conduct and thus unsustainable; and (iii) as a result, Pinduoduo’s public statements were materially false and misleading at all relevant times.
To learn more about the Pinduoduo Inc. class action contact [email protected].
Oracle Corporation (NYSE: ORCL) Class Period: May 10, 2017 – March 19, 2018 Lead Plaintiff Deadline: October 9, 2018 Join the action: https://www.zlk.com/pslra-d/oracle-corporation-2?wire=3
The complaint alleges that throughout the Class Period defendants issued false and misleading statements regarding Oracle’s cloud revenues and failed to disclose that these revenues were driven, at least in part, by improper, coercive sales practices, including: (1) threatening existing customers with “audits” of their use of Oracle’s non-cloud software licenses and levying expensive penalties against those customers, unless the customers agreed to shift their business to Oracle cloud programs; (2) decreasing customer support for certain Oracle on-premises or hardware systems, in an effort to drive customers away from such systems and into cloud-based systems; and (3) strong-arming customers by threatening to raise the cost of legacy database licenses dramatically if the customers choose another cloud provider.
To learn more about the Oracle Corporation class action contact [email protected].
LogMeIn, Inc. (NASDAQ: LOGM) Class Period: March 1, 2017 – July 26, 2018 Lead Plaintiff Deadline: October 19, 2018 Join the action: https://www.zlk.com/pslra-d/logmein?wire=3
About the lawsuit: Throughout the class period, LogMeIn, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) LogMeIn’s business practices had negatively impacted renewal rates for certain of its services; and (2) as a result, Defendants’ public statements were materially false and misleading at all relevant times. Following this news, shares of LogMeIn fell $26.60 to close at $77.85 per share on July 27, 2018.
To learn more about the LogMeIn, Inc. class action contact [email protected].
You have until the lead plaintiff deadlines to request the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 55 Broadway, 10th Floor New York, NY 10006 [email protected] Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
