NEW YORK, NY / ACCESSWIRE / September 27, 2022 / 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. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
NIO Shareholders Click Here: https://www.zlk.com/pslra-1/nio-inc-class-action-submission-form?prid=32135&wire=1
CPNG Shareholders Click Here: https://www.zlk.com/pslra-1/coupang-class-action-submission-form?prid=32135&wire=1
TWTR Shareholders Click Here: https://www.zlk.com/pslra-1/twitter-lawsuit-submission-form?prid=32135&wire=1
* ADDITIONAL INFORMATION BELOW *
NIO Inc. (NYSE:NIO)
NIO Lawsuit on behalf of: investors who purchased August 20, 2020 - July 11, 2022
Lead Plaintiff Deadline: October 24, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/nio-inc-class-action-submission-form?prid=32135&wire=1
According to the filed complaint, during the class period, NIO Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) NIO pulled forward revenue by selling batteries to a related party, which owned the batteries and managed users' subscriptions; (2) through the related party, NIO also recognized enormous depreciation savings; (3) as a result of the foregoing, the Company's revenue and net loss were overstated; 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.
Coupang, Inc. (NYSE:CPNG)
This lawsuit is on behalf of all purchasers of Coupang Class A common stock pursuant and/or traceable to the registration statement issued in connection with Coupang's March 2021 initial public offering.
Lead Plaintiff Deadline: October 25, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/coupang-class-action-submission-form?prid=32135&wire=1
According to the filed complaint, (a) Coupang was engaged in improper anti-competitive practices with its suppliers and other third parties in violation of applicable regulations, including: (i) pressuring suppliers to raise prices of products on competing e-commerce platforms to ensure Coupang's prices would be more competitive; (ii) coercing suppliers into purchasing advertisements that would benefit Coupang financially; (iii) forcing suppliers to shoulder all expenses from sales promotions; and (iv) requesting wholesale rebates from suppliers without specifying any terms relating to rebate programs, all of which served to artificially maintain Coupang's lower prices and artificially inflate Coupang's historical revenues and market share; (b) Coupang had improperly adjusted search algorithms and manipulated product reviews on its marketplace platform to prioritize its own private-label branded products over those of other sellers and merchants, to the detriment of consumers, merchants, and suppliers; (c) unbeknownst to its Rocket WOW members, Coupang was selling products to non-member customers at lower prices than those offered to its Rocket WOW members; (d) Coupang subjected its workforce to extreme, unsafe, and unhealthy working conditions; (e) all of the above illicit practices exposed Coupang to a heightened, but undisclosed, risk of reputational and regulatory scrutiny that would harm Coupang's critical relationships with consumers, merchants, suppliers, and the workforce; and (f) Coupang's lower prices, historical revenues, competitive advantages, and growing market share were the result of systemic, improper, unethical, and/or illegal practices, and, thus, unsustainable.
Twitter, Inc. (NYSE:TWTR)
TWTR Lawsuit on behalf of: investors who purchased August 3, 2020 - August 23, 2022
Lead Plaintiff Deadline: November 14, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/twitter-lawsuit-submission-form?prid=32135&wire=1
According to the filed complaint, during the class period, Twitter, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Twitter knew about security concerns on their platform; (2) Twitter actively worked to hide the security concerns from the board, the investing public, and regulators; (3) contrary to representations in its filings with the U.S. Securities and Exchange Commission, Twitter did not take steps to improve security; (4) Twitter's active refusal to address security issues increased the risk of loss of public goodwill; and (5) as a result, defendants' statements about Twitter's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
You have until the lead plaintiff deadlines to request that 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 nationally recognized 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.
SOURCE: Levi & Korsinsky, LLP
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