Zimmer Biomet Holdings

The Shuman Law Firm Investigates Zimmer Biomet Holdings, Inc.                                                                                            

DENVER, CO October 24, 2018 – The Shuman Law Firm announces that it is investigating potential shareholder claims against certain officers and directors of Zimmer Biomet Holdings, Inc. (“ZBH” or the “Company”) (Nasdaq: ZBH). ZBH designs, manufactures, and markets musculoskeletal healthcare products.

The Firm’s investigation concerns allegations raised in a class action complaint filed against the Company and certain of its senior officers and directors. The lawsuit alleges that these defendants made materially false statements relating to the financial performance of ZBH during the summer and fall of 2016 by concealing compliance issues at a key factory. Specifically, on November 8, 2016, ZBH announced that the Company’s product shortages were the result of a “disastrous” FDA inspection of its North Campus location in Warsaw, Indiana and the deficiencies it uncovered. The FDA later made public its findings in a Form 483, which detailed eight observations the agencny determined needed correction, including, among other things: (i) a failure to adequately establish procedures to control product that does not conform to specified requirement; and (ii) failure to adequately establish procedures for corrective and preventive action for nonconforming products. Some of the FDA’s deficiency observations had been repeat issues dating back to 2011. When this information was made public, the Company’s stock fell approximately 14%.

If you currently own ZBH common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.

 


IZEA Worldwide

The Shuman Law Firm Investigates IZEA Worldwide, Inc.                                                               

DENVER, CO October 19, 2018 – The Shuman Law Firm announces that it is investigating potential shareholder claims against certain officers and directors of IZEA Worldwide, Inc. (“IZEA” or the “Company”) (Nasdaq: IZEA). IZEA creates and operates online marketplaces that connect marketers and content creators.

On February 26, 2018 IZEA announced that in connection with the preparation of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017, the Company’s Audit Committee of the Board of Directors (the “Audit Committee”) determined that there was an error in accounting for revenue and cost of sales related to the self-service Content Workflow portion of the company’s revenue, and that as a result of additional review procedures necessitated by the accounting adjustments the Company needed additional time to file its Annual Report on Form 10-K for the year ended December 31, 2017. Following these events, a class action lawsuit was filed against the Company and certain of its senior officers and directors alleging violations of federal securities laws.

Shares of IZEA fell $0.66 per share, or over 18%, on April 2, 2018, after the announcement that the Company would be late filing its 10-K, to close at $3.00 per share. The stock price then continued to fall the following trading day, and dropped another $0.58 per share, or over 19%, to close at $2.42 per share on April 3, 2018. The stock price has continued to decline and currently trades at approximately $1.64 per share.

If you currently own IZEA common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.


RH

The Shuman Law Firm Investigates RH             

DENVER, CO October 18, 2018 – The Shuman Law Firm announces that it is investigating potential shareholder claims against certain officers and directors of RH (“RH” or the “Company”) (NYSE: RH). RH primarily operates as a retailer of home furnishings.

In 2017, an investor class action complaint was filed against the Company in federal court on behalf of certain purchasers of RH’s common stock. Among other things, the shareholder complaint alleges that RH and certain of the Company’s senior executive officers violated the federal securities laws by making a series of materially false and misleading statements to investors concerning the Company’s launch of RH Modern, and the company’s inventory levels. The investors claim that RH aggressively marketed its new line with photo-edited images of products that did not exist, resulting in yearlong delays in delivery and canceled orders from its customers. When RH disclosed its inventory troubles, the company’s stock plunged 75%, erasing more than $3 billion in shareholder value.

In February 2018, the federal court presiding over the litigation denied defendants’ motion to dismiss the class action complaint. Recently, on October 11, 2018, the plaintiffs overcame an important procedural hurdle when federal court presiding granted the plaintiff’s motion to certify the class action. The class consists of those who purchased or otherwise acquired the common stock of RH during the period from March 26, 2015 through June 8, 2016, inclusive.

If you currently own RH common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.


Synchronoss Technologies

The Shuman Law Firm Investigates Synchronoss Technologies, Inc.                            

DENVER, CO August 6, 2018 – The Shuman Law Firm announces that it is investigating potential shareholder claims against certain officers and directors of Synchronoss Technologies, Inc. (“Synchronoss” or the “Company”) (OTC: SNCR). Synchronoss primarily provides cloud solutions and software-based activation for connected devices worldwide.

The Firm’s investigation relates to the Company’s announced restatement of financial statements for as far back as 2013. The Company recently filed its Annual Report on Form 10-K for 2017. This filing included a breakdown of the Company’s restated financial results which in aggregate reduced Synchronoss’ revenue by $190 million – or 8% – over this five year period. Synchronoss cited failures in internal controls over revenue recognition processes for causing the restatement. The Company’s stock price has fallen dramatically over the past two years from more than $49 per share in November of 2016 to trading at approximately $4 today. This corresponds to a drop in market capitalization of more than 90% – or from approximately $2 billion to less than $170 million at present.

If you currently own Synchronoss common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.

The Shuman Law Firm represents investors throughout the nation, concentrating its practice in stockholder litigation.


Centene Corp.

The Shuman Law Firm Investigates Centene Corp.       

DENVER, CO May 14, 2018 – The Shuman Law Firm announces that it is investigating potential shareholder claims against certain officers and directors of Centene Corp. (“Centene” or the “Company”) (NYSE: CNC). Centene provides health plans in over twenty states through Medicaid, Medicare, and the Health Insurance Marketplace.

The Firm’s investigation relates to the Company’s approximately $6 billion merger with Heath Net, Inc. Following this acquisition, a class action lawsuit was filed against the Company and certain of its senior offices and directors alleging that the Company incorrectly accounted for Health Net’s underperforming health plans, including by understating certain reserves to account for losses in California, Arizona and Oregon. On July 26, 2016, the Company filed a report with the SEC on Form 8K, stating that it was reserving approximately $300 million for losses associated with Health Net’s insurance plan.  Following this news, the Company’s shares price fell approximately 8%, leading to a market capitalization loss of nearly $1 billion.

If you currently own Centene common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.


Babcock & Wilcox Enterprises, Inc.

The Shuman Law Firm Investigates Babcock & Wilcox Enterprises, Inc.   

DENVER, CO May 14, 2018 – The Shuman Law Firm announces that it is investigating potential shareholder claims against certain officers and directors of Babcock & Wilcox Enterprises, Inc. (“Babcock & Wilcox” or the “Company”) (NYSE: BW). Babcock & Wilcox provides fossil and renewable power generation and environmental equipment for the power and industrial markets worldwide.

The Firm’s investigation relates to allegations raised in a purported class action lawsuit filed against Babcock & Wilcox over alleged securities laws violations which was recently upheld by a federal judge in North Carolina at the motion to dismiss stage. The plaintiff alleged that the Company was experiencing significant, undisclosed problems in its Renewable segment and that CEO E. James Ferland and CFO Jenny L. Apker misleadingly touted the prospects of the Company’s Renewable energy segment and cost-cutting abilities. The Company’s stock fell approximately 72% in one day following the release of disappointing quarterly earnings and a disclosure that the Company was making changes to its Renewables segment’s business model and disclosed a weakness in the segment’s internal controls. Amidst these problems, on February 1, 2018, the Company announced that its CEO, James Ferland, would not be retained in his executive position following the expiration of his current employment agreement and would transition to executive chairman.

If you currently own Babcock & Wilcox common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.


NantHealth, Inc.

The Shuman Law Firm Investigates NantHealth, Inc.  

DENVER, CO May 14, 2018 – The Shuman Law Firm announces that it is investigating potential shareholder claims against certain officers and directors of NantHealth, Inc. (“NantHealth” or the “Company”) (Nasdaq: NH). NantHealth operates as an evidence-based personalized healthcare company in the United States and internationally.

In 2014, the Company’s founder and CEO, Patrick Soon-Shiong, made a $12 million donation to the University of Utah through various charitable organizations he controlled. The Firm’s investigation relates to events reported in a March 6, 2017, article by STAT, a news organization focused on medical industry reporting, which published an article alleging that pursuant to the terms of Soon-Shiong’s donation to the University of Utah, the university was effectively required to spend $10 million on genetics analysis performed by NantHealth.  This arrangement allegedly enabled NantHealth to inflate by more than 50 percent the number of test orders it reported to investors in 2016. Also, the article quoted two tax experts who stated that the deal “appeared to violate federal tax rules governing certain charitable donations” and “amount[ed] to indirect self-dealing by Soon-Shiong and his foundations.” When this information became public, NantHealth’s stock fell approximately 24%.

If you currently own NantHealth common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.


Power Solutions International, Inc.

The Shuman Law Firm Investigates Power Solutions International, Inc.                                 

DENVER, CO May 3, 2018 – The Shuman Law Firm announces that it is investigating potential shareholder claims against certain officers and directors of Power Solutions International, Inc. (“Power Solutions” or the “Company”) (OTC: PSIX). Power Solutions provides designs, manufactures, distributes, and supports power systems and custom engineered integrated electrical power generation systems for industrial original equipment manufacturers (OEMs) of off-highway industrial equipment and on-road medium trucks and busses.

Power Solutions investors filed a class action complaint against the Company for alleged violations of the Securities Exchange Act of 1934 between February 27, 2014 and February 2, 2017. The complaint alleges that Power Solutions “routinely and systematically engaged in extremely aggressive sales practices and fraudulent “pull-forward” revenue recognition schemes in order to prematurely recognize sales and revenue in violation of Generally Accepted Accounting Principles (“GAAP”), the SEC Rules, and the Company’s own stated policies.” Moreover, the complaint also alleges that “a number of the most egregious accounting violations were engineered and directed by Gary S. Winemaster the CEO and Co-founder of the Company.” On August 15, 2016, Power Solutions disclosed during after-hours trading that it needed additional time to file its Form 10-Q for the quarter ending June 30, 2016, with the SEC. In this release, the Company stated that it had not completed its financial statements “in light of an ongoing review of allegations made by a former employee” concerning “certain transactions involving revenue recognition.” The Company has yet to file its restated financial statements with the SEC, has been delisted from Nasdaq and currently trades OTC.

If you currently own Power Solutions common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.


Extreme Networks, Inc.

The Shuman Law Firm Investigates Extreme Networks, Inc. 

DENVER, CO April 23, 2018 – The Shuman Law Firm announces that it is investigating potential shareholder claims against certain officers and directors of Extreme Networks, Inc. (“Extreme Networks” or the “Company”) (Nasdaq: EXTR). Extreme Networks provides software-driven networking solutions for enterprise customers worldwide.

Extreme Networks investors filed a class action complaint against the Company for alleged violations of the Securities Exchange Act of 1934 between November 4, 2013 and April 9, 2015. The complaint alleges that Extreme Networks misrepresented the success of the company’s post-acquisition integration with its former competitor, Enterasys Networks, Inc. by assuring investors that there would be no disruption in customers’ ability to grow and operate their networks. However, the integration was a failure, resulting in client loss, client dissatisfaction, and high executive turnover. On April 9, 2015, the Company announced that it would severely miss guidance for non-GAAP revenue and earnings per share for its third fiscal quarter of 2015. On this news, Extreme Networks’ stock fell approximately 23% to close at $2.50 per share on April 20, 2015. On March 21, 2018, the Honorable Beth Labson Freeman of the U.S. District Court for the Northern District of California, San Jose Division denied in part Extreme Networks’ motion to dismiss, paving the way for litigation to proceed.

If you currently own Extreme Networks common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.