CLASS ACTION UPDATE for AXGN, MKL, VALE and VNDA: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders – iCrowdNewswire
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Mar 12, 2019 7:00 AM ET

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CLASS ACTION UPDATE for AXGN, MKL, VALE and VNDA: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

Legal Newswire iCrowdNewswire - Mar 12, 2019

NEW YORK,  — 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.

AxoGen, Inc. (NASDAQ: AXGN)
Class Period: 
August 7, 2017 – December 18, 2018
Lead Plaintiff Deadline: March 11, 2019
Join the action: https://www.zlk.com/pslra-1/axogen-inc-loss-form?wire=3

The lawsuit alleges: AxoGen, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company aggressively increased prices to mask lower sales; (2) the Company’s pricing alienated customers and threatened the Company’s future growth; (3) ambulatory surgery centers form a significant part of the market for the Company’s products; (4) such centers were especially sensitive to price increases; (5) the Company was dependent on a small number of surgeons whom the Company paid to generate sales; (6) the Company’s consignment model for inventory was reasonably likely to lead to channel stuffing; (7) the Company offered purchase incentives to sales representatives to encourage channel stuffing; (8) the Company’s sales representatives were encouraged to backdate revenue to artificially inflate metrics; (9) the Company lacked adequate internal controls to prevent such channel stuffing and backdating of revenue; (10) the Company’s key operating metrics, such as number of active accounts, were overstated; and (11) 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.

To learn more about the AxoGen, Inc. class action contact [email protected].

Markel Corporation (NYSE: MKL)
Class Period: 
July 26, 2017 – December 6, 2018
Lead Plaintiff Deadline: March 12, 2019
Join the action: https://www.zlk.com/pslra-1/markel-corporation-loss-form?wire=3

The lawsuit alleges that, during the class period, Markel Corporation made materially false and/or misleading statements and/or failed to disclose that: (a) Markel lacked effective reporting controls and was not reporting its financial results in compliance with Generally Accepted Accounting Principles (“GAAP”); (b) the Company’s wholly-owned subsidiary Markel CATCo Investment Management Ltd. (“MCIM”) was not appropriately recording loss reserves; (c) as a result, MCIM’s loss reserves would need to be adjusted and/or restated; (d) these accounting practices would lead to regulatory scrutiny and financial loss to investors; and (e) as a result of the foregoing, defendants’ positive statements during the Class Period were materially false and misleading and/or lacked a reasonable basis.

To learn more about the Markel Corporation class action contact [email protected].

Vale S.A. (NYSE: VALE)
Class Period: 
April 11, 2017 – January 28, 2019
Lead Plaintiff Deadline: March 29, 2019
Join the action: https://www.zlk.com/pslra-1/vale-s-a-loss-form?wire=3

The lawsuit alleges: Vale S.A. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (i) Vale had failed to adequately assess the risk and damage potential of a dam breach at its Feijão iron ore mine especially in light of its experience in 2015; (ii) Vale’s programs to mitigate health and safety incidents were inadequate; (iii) Defendants filed to disclose that Vale’s auditor was not independent, as required under Brazilian mining law; (iv) Defendants failed to disclose that an internal report commissioned by Vale in 2018 to assess the stability of the tailings dam raised concerns over its drainage and monitoring systems; (v) Defendants failed to disclose the existence of information that the dam was at risk of “liquefaction,” the same issue that led to the 2015 collapse of the Samarco dam; and (vi) as a result, Vale’s public statements were materially false and misleading at all relevant times.

To learn more about the Vale S.A. class action contact [email protected].

Vanda Pharmaceuticals Inc. (NASDAQ: VNDA)
Class Period: 
November 4, 2015 – February 11, 2019
Lead Plaintiff Deadline: April 26, 2019
Join the action: https://www.zlk.com/pslra-1/vanda-pharmaceuticals-inc-loss-form?wire=3

The lawsuit alleges: Vanda Pharmaceuticals Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Vanda was engaged in a fraudulent scheme in which it promoted the off-label use of Fanapt and Hetlioz; (2) Vanda was fraudulently receiving drug reimbursements from the government by abusing Medicare, Medicaid, and Tricare programs; (3) as a result of the scheme, Vanda faced legal action from the government; (4) Vanda’s promotional materials for Fanapt and Hetlioz were false and misleading, garnering regulatory scrutiny from the U.S. Food and Drug Administration; and (5) as a result, defendants’ statements about Vanda’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

To learn more about the Vanda Pharmaceuticals 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 Information:

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

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