LOS ANGELES, March 22, 2022 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to fcruz@frankcruzlaw.com.
TaskUs, Inc. (NASDAQ: TASK)
Class Period: June 11, 2021 – January 19, 2022
Lead Plaintiff Deadline: April 25, 2022
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) TaskUs was experiencing severe financial strain and business challenges, particularly with its most important customer Facebook; (2) the Content Security market was smaller than Defendants represented and Defendants’ representations were based on outdated market data; (3) TaskUs improperly recognized revenue from certain key contracts; (4) Defendants overstated the size of TaskUs’ workforce as well as employee retention rates, and understated attrition rates; and (5) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.
Cerence Inc. (NASDAQ: CRNC)
Class Period: February 8, 2021 – February 4, 2022
Lead Plaintiff Deadline: April 26, 2022
Shareholders with $400,000 losses or more are encouraged to contact the firm
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the global semiconductor shortage had a materially negative impact on demand for Cerence’s software licenses; (2) that Defendants masked the impact of the semiconductor shortage on demand for the Company’s software licenses by pulling forward sales; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Affirm Holdings, Inc. (NASDAQ: AFRM)
Class Period: February 10, 2022
Lead Plaintiff Deadline: April 29, 2022
Shareholders with $100,000 losses or more are encouraged to contact the firm
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company’s Tweet contained only selected metrics from its second quarter 2022 financial results, which caused investors to believe that the Company had performed better than it actually did; (2) the Tweet omitted material details, including that Affirm’s quarterly loss was $0.57 per share, which was necessary in order to make the statement made not misleading; and (3) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.
Ericsson (NASDAQ: ERIC)
Class Period: April 27, 2017 – February 25, 2022
Lead Plaintiff Deadline: May 2, 2022
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Ericsson overstated the extent to which it had reformed its business practices to eliminate the use of bribes to secure business in foreign countries; (2) Ericsson had paid bribes to the terrorist group the Islamic State in Iraq and Syria to gain access to certain transport routes in Iraq; (3) accordingly, the Company’s revenues derived from its operations in Iraq were, in at least substantial part, derived from unlawful conduct and thus unsustainable; and (4) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.
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To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
