MERION, Pa., Dec. 21, 2015
/PRNewswire/ -- The Law Offices of Marc S. Henzel (www.henzellaw.com), a firm
focusing on shareholder litigation, gives notice to shareholders of
investigation into the following securities for violations of the
Federal Securities Laws:
ERBA Diagnostics, Inc. (NYSE-MKT: ERB)
4/14/14 thru 11/20/15
On November 20, 2015, after the
market closed, ERBA disclosed that the Company's previously issued
financial statements for each of the years ended December 31, 2014 and 2013 and for each of the
interim periods ended March 31, 2015
and June 30, 2015 (collectively, the
"Non-Reliance Periods") should no longer be relied upon. ERBA
further disclosed that it intends to restate its financial
statements for the Non-Reliance Periods. On this news, shares of
ERBA dropped over 20%, closing at $1.14 per share on November 24, 2015, on heavy trading volume.
Nimble Storage, Inc. (NYSE: NMBL) 5/27/15 thru 11/19/15
On November 19, 2015, Nimble
Storage announced fiscal 2016 third quarter financial results,
reporting total revenue of $80.7
million, non-GAAP gross margin of 66.9%, a non-GAAP
operating loss of $10.8 million, or
negative 13% of revenue, and a GAAP net loss of $28.6 million, or $0.36 per basic and diluted share. On this
news, the price of Nimble Storage common stock fell $10.34 per share, or 51%, to close at
$10.05 per share on November 20, 2015.
Qualcomm Incorporated (Nasdaq: QCOM)
11/6/14 thru 7/22/15
On July 22, 2015, after the market
closed, Qualcomm issued a press release that reported its
third-quarter 2015 results and lowered its sales and earnings
forecasts due, in part, to weaker-than-expected original equipment
manufacturer sales of devices that included the Company's products.
Qualcomm explained on the earnings call discussing these results
that it had an inventory build-up of chips. On this news, Qualcomm
stock dropped significantly immediately following this
announcement.
SunEdison, Inc. (NYSE:
SUNE)
6/16/15 thru 10/6/15
On October 5, 2015, the truth
about the Company's financial soundness was revealed when the
Company announced it was laying off 15% of its workforce.
SunEdison's stock dropped to $8.69,
from a high of $30.96 at the start of
the Class Period on June 16, 2015 – a
72% drop.
SuperCom Ltd. (Nasdaq: SPCB)
6/1/15 thru 11/27/15
On November 30, 2015, Supercom
announced its preliminary financial results for the third quarter
of 2015, acknowledging that it had significantly missed its own
revenue target and disclosing that the Company expected third
quarter 2015 revenues to come in at $5.5-$6.1 million, less than half of the
$13.38 million the Company had led
the investment community to expect, and that it would be forced to
lower its fiscal year 2015 guidance. The Company stated that its
"'financial performance in the third quarter and full-year were
impacted by [its] inability to recognize more than $10 million of revenues that were expected this
year, mainly due to delays associated with foreign government
customers.'" On this news, the price of SuperCom common stock fell
more than $3 per share, or 40%, from
its close of $7.70 per share on
November 27, 2015 to a close of
$4.60 per share on November 30, 2015.
Vale S.A. (NYSE: VALE)
3/21/15 thru 11/30/15
On November 27, 2015, Vale
admitted for the first time that, due to a dam breach, there was
toxic waste in the Rio Doce. On this news, the Company's securities
fell $0.16 per share from its
previous closing price on November 25,
2015, to close at $3.57 per
share on November 27, 2015. Three
days later, the Brazilian government filed a lawsuit against Vale,
Samarco, and BHP Billiton plc of Australia for $5.2
billion. On this news, the Company's securities fell
$0.20, or 5.6%, to close at
$3.37 on November 30, 2015.
Vital Therapies, Inc. (Nasdaq: VTL) 4/17/14 thru 8/21/15
On August 21, 2015, after the
market closed, the Company issued a press release announcing that
the VTI-208 trial "failed to meet the primary endpoint of overall
survival through at least 91 days[.]" The press release also
announced that "[t]he Company will stop the VTI-210 and VTI-212
clinical trials, and also plans to meet with the FDA as soon as
possible to discuss restructuring its clinical development program,
including a potential new trial to confirm the information
suggested by the subset analyses." On this news, shares of
Vital Therapies plummeted over 79%, closing at $3.65 per share on August
24, 2015, on heavy trading volume.
Jarden Corporation (NYSE:
JAH) 12/14/15
Under the terms of the agreement, shareholders of Jarden will
receive $21.00 in cash and 0.862
shares of Newell Rubbermaid for each
share of Jarden. Based on Newell
Rubbermaid's closing stock price on December 11, 2015, Jarden shareholders would have
received compensation valued at approximately $60.03 per share.
Heartland Payment Systems, Inc. (NYSE: HPY) 12/15/15
Under the terms of the agreement, shareholders of Heartland will
receive 0.6687 shares of Global Payments stock and $53.28 in cash for each share of Heartland. Based
on Global Payments' closing stock price on December 15, 2015, Heartland shareholders would
have received compensation valued at approximately $101.04 per share.
Inland Real Estate Corporation (NYSE: IRC) 12/15/15
On December 15, 2015 IRC announced
that it had signed a definitive merger agreement with DRA. Under
the terms of the agreement, DRA will acquire all issued and
outstanding common stock of IRC for $10.60 per share in cash.
If you would like to learn more about the investigation of these
companies, would like to learn more about any potential claims or
you wish to discuss these matters and have any questions concerning
this announcement or your rights, please contact Marc S. Henzel (610) 660-8000, email at
Mhenzel@Henzellaw.com, or to sign up online, visit the firm's
website at www.henzellaw.com.
The Law Offices of Marc S. Henzel
is a national shareholder litigation firm representing shareholders
& investors in various areas of securities laws including but
not limited to: class actions, derivatives, transactional
(buyouts/takeovers/mergers) and FINRA & NYSE Arbitrations.
Contact:
Law Offices of Marc S. Henzel
Marc S. Henzel
Email: Mhenzel@Henzellaw.com
Phone 610-660-8000
Website: www.henzellaw.com
LAW OFFICES OF MARC S. HENZEL
MERION STATION, PA 19066
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SOURCE Law Offices of Marc S.
Henzel