PriceSmart, Inc. (PSMT) & Bloom Energy Corporation (BE) – Bronstein, Gewirtz & Grossman, LLC Class Action Update

NEW YORK, June 06, 2019 — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. 

PriceSmart, Inc. (NASDAQ: PSMT) Class Period: October 26, 2017 and October 25, 2018 Deadline: July 22, 2019 For more info: www.bgandg.com/psmt

The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s omni-channel business strategy had failed to reach key operating goals; (2) the Company’s South America distribution strategy had failed to realize key cost saving goals; (3) the Company had invested Trinidad and Tobago dollars into certificates of deposits with financial institutions; (4) these investments had been improperly classified as cash and cash equivalents; (5) the relevant corrections would materially impact financial statements; (6) there was a material weakness in the Company’s internal controls over financial reporting; (7) increasing competition negatively impacted the Company’s revenue and profitability; and (8) as a result, PriceSmart’s public statements were materially false and misleading at all relevant times.

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Bloom Energy Corporation (BE)  Class Period: Bloom securities pursuant or traceable to the Form S-1 Registration Statement and Prospectus (collectively, the “Registration Statement”) issued in connection with Bloom Energy’s July 2018 initial public stock offering (the “IPO” or “Offering”) Deadline: July 29, 2019 For more info: www.bgandg.com/be

The complaint alleges that the Registration Statement was materially misleading as it failed to disclose known events and trends that were severely affecting the Company’s business and that made investment in Bloom significantly riskier than presented in the Registration Statement.  Specifically, the complaint alleges that the Registration Statement failed to disclose that the Company was experiencing material construction delays. These construction delays would cause system deployments (or “acceptances” as Defendants referred to them) to fall significantly below even the low end of the Company’s previously announced guidance.

Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | [email protected]

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