NEW YORK, NY / ACCESSWIRE / August 16, 2020 / 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.
PPC Shareholders Click Here: https://www.zlk.com/pslra-1/pilgrims-pride-corporation-information-request-form?prid=8596&wire=1
USO Shareholders Click Here: https://www.zlk.com/pslra-1/united-states-oil-fund-lp-loss-submission-form?prid=8596&wire=1
VEL Shareholders Click Here: https://www.zlk.com/pslra-1/velocity-financial-inc-loss-submission-form?prid=8596&wire=1
* ADDITIONAL INFORMATION BELOW *
Pilgrim's Pride Corporation (NASDAQ:PPC)
PPC Lawsuit on behalf of: investors who purchased February 9, 2017 - June 3, 2020
Lead Plaintiff Deadline : September 4, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/pilgrims-pride-corporation-information-request-form?prid=8596&wire=1
According to the filed complaint, during the class period, Pilgrim's Pride Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) the Company and its executives had participated in an illegal antitrust conspiracy to fix prices and rig bids from at least as early as 2012 and continuing through at least early 2017; (2) the Company received competitive advantages, which persisted during the Class Period, from its anticompetitive conduct; and (3) as a result, Defendants' statements about the Company's business, operations, and prospects lacked a reasonable basis.
United States Oil Fund, LP (NYSE:USO)
The Lawsuit is on behalf of shareholders of United States Oil Fund, LP who purchased shares between March 19, 2020 and April 28, 2020 and/or pursuant or otherwise traceable to the Fund's March 19, 2020 registration statement.
Lead Plaintiff Deadline : August 18, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/united-states-oil-fund-lp-loss-submission-form?prid=8596&wire=1
According to the filed complaint, (1) unbeknownst to investors, extraordinary market conditions in early 2020 made USO's purported investment objective and strategy unfeasible; (2) as excess oil supply increased and oil prices plummeted, the facilities available for storage in Cushing approached capacity, causing a "super contango" in which the futures prices for oil substantially exceeded the spot price; (3) instead of revealing the known impacts and risks to the Fund, USO held an offering of billions of dollars of USO shares in March 2020; and (4) as a result USO suffered billions of dollars in losses and was forced to abandon its investment strategy.
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.
Lead Plaintiff Deadline : September 28, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/velocity-financial-inc-loss-submission-form?prid=8596&wire=1
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.
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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