NEW YORK, NY / ACCESSWIRE / June 19, 2019 / 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.
Lyft, Inc. (NASDAQGS: LYFT)
Investors Affected : pursuant or traceable to the Company's Offering and Registration Statement issued in relation to the March 28, 2019 IPO
A class action has commenced on behalf of certain shareholders in Lyft, Inc. According to the lawsuit, Lyft's Offering materials issued in connection with its IPO failed to disclose that: (1) Lyft's claimed ridesharing position was overstated; (2) more than 1,000 of the bicycles in Lyft's rideshare program suffered from safety issues that would lead to their recall; (3) Lyft's drivers were becoming disincentivized from driving for Lyft; (4) Lyft failed to warn investors that a labor disruption could affect its operations; and (5) as a result, Lyft's public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/lyft-inc-loss-submission-form/?id=1999&from=1.
Cloudera, Inc. (NYSE: CLDR)
Investors Affected : April 28, 2017 - June 5, 2019
A class action has commenced on behalf of certain shareholders in Cloudera, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Cloudera was finding it increasingly difficult to identify large enterprises interested in adopting the Company's Hadoop-based platform; (ii) Cloudera needed to expend an increasing amount of capital on sales and marketing activities to generate new revenues, even as new revenue opportunities were diminishing; and (iii) Cloudera had materially diminished sales opportunities and prospects and could not generate annual positive cash flows.
Shareholders may find more information at https://securitiesclasslaw.com/securities/cloudera-inc-loss-submission-form/?id=1999&from=1.
Zuora, Inc. (NYSE: ZUO)
Investors Affected : April 12, 2018 - May 30, 2019
A class action has commenced on behalf of certain shareholders in Zuora, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company would focus on implementing RevPro for new customers ahead of the deadline to comply with accounting standard ASC 606; (2) as a result, the Company lacked adequate resources to integrate RevPro with the core business; (3) the Company would focus on RevPro integration a year after the acquisition closed; (4) delays in integrating RevPro would materially impact the business; (5) the market for RevPro was limited to customers seeking to implement new accounting standards such as ASC 606; (6) after the deadline for ASC 606 compliance passed, demand for RevPro was reasonably likely to decline; and (7) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders may find more information at https://securitiesclasslaw.com/securities/zuora-inc-loss-submission-form/?id=1999&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.
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
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https://www.accesswire.com/549252/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-LYFT-CLDR-and-ZUO
