NEW YORK, NY / ACCESSWIRE / September 25, 2020 / 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.
Velocity Financial, Inc. (NYSE:VEL)
This lawsuit is on behalf of investors who purchased VEL stocks pursuant and/or traceable to the Registration Statement and Prospectus, as amended, issued in connection with Velocity's January 2020 initial public offering.
A class action has commenced on behalf of certain shareholders in Velocity Financial, Inc. According to the filed complaint, defendants failed to disclose that, at the time of Velocity's initial public offering (the "IPO"), the Company's non-performing loans had dramatically increased in size from the figures provided in the Registration Statement and Prospectus that Velocity had issued in connection with the IPO. Further, defendants failed to provide any information to investors regarding the potential impact of the novel coronavirus on Velocity's business and operations, despite the fact that the international spread of the virus had already been confirmed at the time of the IPO. The failure to disclose the substantial and growing proportion of the Company's loans that were non-performing and/or on non-accrual status as of the IPO rendered the statements contained in the Registration Statement and Prospectus regarding the quality of the Company's loan portfolio and underwriting practices materially misleading.
Shareholders may find more information at https://securitiesclasslaw.com/securities/velocity-financial-inc-loss-submission-form/?id=9626&from=1
Eastman Kodak Company (NYSE:KODK)
Investors Affected : July 27, 2020 - August 11, 2020
A class action has commenced on behalf of certain shareholders in Eastman Kodak Company. According to a filed complaint, defendants failed to disclose that the Company had granted its Executive Chairman, James Continenza, and several other Company insiders millions of dollars' worth of stock options immediately prior to the Company publicly disclosing that it had received the $765 million loan, which Defendants knew would cause Kodak's stock to immediately increase in value once the deal was announced. In addition, while in possession of this material non-public information, Continenza and other Company insiders purchased tens of thousands of the Company's shares immediately prior to the announcement, again at prices that they knew would increase exponentially once news of the loan became public.
Shareholders may find more information at https://securitiesclasslaw.com/securities/eastman-kodak-company-loss-submission-form/?id=9626&from=1
Nano-X Imaging Ltd. (NASDAQ:NNOX)
Investors Affected : August 21, 2020 - September 15, 2020
A class action has commenced on behalf of certain shareholders in Nano-X Imaging Ltd. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Nano-X's commercial agreements and its customers were fabricated; (2) Nano-X's statements regarding its "novel" Nanox System were misleading as the Company never provided data comparing its images with images from competitors' machines; (3) Nano-X's submission to the U.S. Food and Drug Administration admitted the Nanox System was not original; and (4) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/nano-x-imaging-ltd-loss-submission-form/?id=9626&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. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm
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