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CEDARHURST, New York, — The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff and a preliminary estimate of their recoverable losses.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No classes have yet been certified in the actions below. Appointment as lead plaintiff is not required to partake in any recovery.
Healthcare Services Group, Inc. (NASDAQ: HCSG)
Investors Affected: April 11, 2017 – March 4, 2019
A class action has commenced on behalf of certain shareholders in Healthcare Services Group, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) Defendant Wahl either knew or was reckless in not knowing that the Company had been accused of strategically rounding quarterly earnings per share, and therefore investors could not rely upon the Company’s track record without conducting a thorough investigation into the allegations; (b) Defendants concealed that the SEC had written to the Company in November 2017 to inquire into the Company’s earnings per share rounding practices; and (c) the Company concealed that the SEC delivered a subpoena to the Company in March 2018 demanding the Company produce documents in connection with how it calculated earnings per share.
Shareholders may find more information at https://kclasslaw.com/securities/healthcare-services-group-inc-loss-submission-form/?wire=3
Fusion Connect, Inc. (OTCMKTS: FSNN)
Investors Affected: August 14, 2018 – April 2, 2019
A class action has commenced on behalf of certain shareholders in Fusion Connect, Inc. The complaint alleges that Fusion made materially false and misleading statements, later admitting that the process used by certain of its Birch subsidiaries for capitalizing costs associated with the customer on-boarding process and the related judgments and estimates were not designed with sufficient precision, leading to an overstatement of the Company’s earnings (or net loss) of between $1.7 million and $2.3 million in the quarter ending on June 30, 2018, and between $3.4 million and $4.1 million in the quarter ending September 30, 2018.
Shareholders may find more information at https://kclasslaw.com/securities/fusion-connect-inc-loss-submission-form/?wire=3
Sprint Corporation (NYSE: S)
Investors Affected: January 31, 2019 – April 16, 2019
A class action has commenced on behalf of certain shareholders in Sprint Corporation. The complaint alleges that Sprint made materially false and misleading statements and/or failed to disclose material information. In particular, the complaint alleges that throughout the class period Sprint misrepresented the number of net postpaid subscriber additions in its Form 10-Q for the period ending December 31, 2018. Sprint would later admit that the data was “incomplete,” and “not a substitute for a realistic analysis of the key factors that are most probative of Sprint’s overall competitive position and prospects,” because “postpaid net additions recently have been driven by ‘free lines’ offered to Sprint customers and the inclusion of less valuable tablet and other non-phone devices, as well as pre to post migrations that do not represent ‘new’ Sprint customers.”
Shareholders may find more information at https://kclasslaw.com/securities/sprint-corporation-loss-submission-form/?wire=3
Equity Bancshares, Inc. (NASDAQ: EQBK)
Investors Affected: May 11, 2018 – April 22, 2019
A class action has commenced on behalf of certain shareholders in Equity Bancshares, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company lacked adequate internal controls to assess credit risk; (2) as a result, certain of the Company’s loans posed an increased risk of loss; (3) as a result, the Company was reasonably likely to incur significant losses for certain substandard loans; and (4) 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://kclasslaw.com/securities/equity-bancshares-inc-loss-submission-form/?wire=3
Kuznicki Law PLLC 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.