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.


RH

The Shuman Law Firm Investigates RH           

DENVER, CO June 25, 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.

The Firm’s investigation relates to allegations raised in a class action complaint that RH repeatedly touted its business prospects, including the introduction of its “RH Modern” brand, which RH described as “the most important… new home furnishings business to be launched in the last 15 or 20 years.” RH would later disclose that the Company faced production delays and that it had issued $18 million in customer accommodations. On this news, RH’s stock plunged over 21% on the highest trading volume in history since its Initial Public Offering. RH would also significantly reduce its earnings guidance for fiscal 2016, which the company attributed to “accommodations largely due to RH Modern production delays.” On February 26, 2018, the Honorable Yvonne Gonzalez Rogers of the U.S. District Court for the Northern District of California denied RH’s motion to dismiss the class action, paving the way for litigation to proceed.

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.


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.

 


Altice USA, Inc.

The Shuman Law Firm Investigates Altice USA, Inc. 

DENVER, CO April 11, 2018 – The Shuman Law Firm announces that it is investigating potential shareholder claims against certain officers and directors of Altice USA, Inc. (“Altice USA” or the “Company”) (NYSE: ATUS). Altice USA is a Long Island City, New York-based company that provides broadband communications and video services in the United States.

Altice USA went public in June 2017 with an Initial Public Offering (“IPO”) raising approximately $2.15 billion on the issuance of approximately 71 million shares at $30 per share. The firm is investigating whether certain statements in Altice’s Registration Statement filed with the Securities and Exchange Commission in connection with the Company’s IPO contained false and/or misleading statements. These filings stated that the Company had a “competitive advantage” and touted Altice USA’s network and customer platform technologies. Despite these purported strengths, on November 3, 2017, senior Altice USA executives held a joint conference call wherein the Company announced declining revenue, margin and earnings in both France and Portugal. Moreover, the Company’s then CEO, Michael Combes, admitted that “not everything is going right here at the moment.” The Company’s stock fell approximately 14% following these events.

If you bought Altice USA common stock in the IPO or subsequently thereafter 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.