NEW YORK, Feb. 13, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating certain officers and directors of Zuora, Inc. (NYSE: ZUO), Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR), ResMed, Inc. (NYSE: RMD), and Covetrus, Inc. (NASDAQ: CVET) on behalf of long-term stockholders. More information about each potential case can be found at the link provided.
Zuora, Inc. (NYSE: ZUO)
Bragar Eagel & Squire is investigating certain officers and directors of Zuora, Inc. following a class action complaint that was field against Zuora on June 14, 2019.
On May 30, 2019, the Company lowered its fiscal 2020 revenue guidance to a range of $268 million to $278 million, from prior guidance of $289 million to $293.5 million, citing problems integrating RevPro, as well as sales execution problems. On this news, the Company’s share price fell $5.91, or nearly 30%, to close at $13.99 on May 31, 2019.
The complaint alleges that throughout the class period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that the Company would focus on implementing RevPro for new customers ahead of the deadline to comply with accounting standard ASC 606; (2) that, as a result, the Company lacked adequate resources to integrate RevPro with the core business; (3) that the Company would focus on RevPro integration a year after the acquisition closed; (4) that delays in integrating RevPro would materially impact the business; (5) that the market for RevPro was limited to customers seeking to implement new accounting standards such as ASC 606; (6) that, after the deadline for ASC 606 compliance passed, demand for RevPro was reasonably likely to decline; and (7) that, 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.
For more information on the Zuora class action go to: https://bespc.com/zuo
Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR)
Bragar Eagel & Squire is investigating certain officers and directors of Arrowhead Pharmaceuticals, Inc. for potential breach of fiduciary duty.
For more information on our investigation into Arrowhead go to: https://bespc.com/arwr
ResMed, Inc. (NYSE: RMD)
Bragar Eagel & Squire is investigating certain officers and directors of ResMed, Inc. following news that ResMed will pay $37.5 million to settle federal claims that free services, loan guarantees and other incentives it offered to customers amounted to unlawful kickbacks to induce sales of its sleep apnea machines.
The U.S Justice Department announced the civil settlement Wednesday, January 15, 2020, which ends probes that stemmed from whistleblower complaints starting in 2016.
For more information about our investigating into ResMed go to: https://bespc.com/rmd
Covetrus, Inc. (NASDAQ: CVET)
Bragar Eagel & Squire is investigating certain officers and directors of Covetrus, Inc. following a class action complaint that was filed against Covetrus on September 30, 2019.
The complaint alleges that during the class period, defendants issued a series of false and/or misleading statements and failed to disclose material adverse facts about Covetrus’s business, operations, and prospects. Specifically, defendants representations to investors: (i) overstated Covetrus’s capabilities with regard to inventory management and supply chain services; (ii) understated the costs of the integration of Henry Schein’s Animal Health Business and VFC, including the timing and nature of those costs; (iii) understated Covetrus’s separation costs from Henry Schein; and (iv) understated the impact on earnings from online competition and alternative distribution channels as well as the impact of the loss of a large customer in North America just prior to the Company’s separation from Henry Schein.
For more information on our investigation into Covetrus go to: https://bespc.com/cvet
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.