SHAREHOLDER ALERT: Barr Law Group Investigating REZI, MMSI, RIDE, and PGZ; Shareholders are Encouraged to Contact the Firm

San Diego, California, UNITED STATES


SAN DIEGO, April 06, 2021 (GLOBE NEWSWIRE) -- National law firm Barr Law Group is investigating the actions of the officers and board of directors of Resideo Technologies, Inc., Merit Medical Systems, Inc., Lordstown Motors Corporation, and Principal Real Estate Income Fund.   If you are a current owner of shares of any of these stocks, contact leo@barrlaw.com or call (619) 400-4966.

Resideo Technologies, Inc. (NYSE: REZI) Accused of Misleading Investors

On March 30, 2021, Judge Wilhelmina M. Wright of the United States District Court for the District of Minnesota issued an order denying the defendants’ motion to dismiss in the pending securities class action, paving the way for litigation to proceed. According to the complaint against Resideo Technologies, Inc. (NYSE: REZI) for alleged violations of the Securities Exchange Act of 1934 between October 29, 2018 and November 6, 2019, Resideo executives repeatedly reassured investors of the company’s business prospects, including that the company was poised to meet its 2018 guidance at the high end of its forecasted range, and that for 2019 the company would achieve organic growth. Further, while the company acknowledged it had experienced operational disruptions (primarily administrative) in connection with the October 2018 spin-off from Honeywell International Inc., defendants repeatedly assured investors that any negative effects of the spin-off were largely “behind [them].” Defendants failed to disclose that the negative operational effects of the spin-off were more substantial and persistent than disclosed and had negatively affected the company’s product sales, supply chain, and gross margins, putting Resideo’s financial forecasts at risk. To learn more about this investigation and your rights, visit: http://barrlaw.com/investor-contact. Representation is contingency based, no out of pocket costs.

Merit Medical Systems, Inc. (NASDAQ: MMSI) Accused of Misleading Investors

On March 29, 2021, Judge David O. Carter of the United States District Court for the Central District of California issued an order denying the defendants’ motion to dismiss in the pending securities class action, paving the way for litigation to proceed. According to the complaint against Merit Medical Systems, Inc. (NASDAQ: MMSI) for alleged violations of the Securities Exchange Act of 1934 between February 26, 2019 and October 30, 2019, Merit executives issued a series of false and misleading statements to investors concerning the integration of acquired companies, Merit’s product pipeline, and the company's prospects and financial guidance. To learn more about this investigation and your rights, visit: http://barrlaw.com/investor-contact. Representation is contingency based, no out of pocket costs.

Lordstown Motors Corporation (NASDAQ: RIDE) Accused of Misleading Investors

Barr Law Group is investigating Lordstown Motors Corporation regarding possible breaches of fiduciary duties and other violations of law by the company’s officers and directors. Before the markets opened on March 12, 2021, analyst Hindenburg Research published a scathing report on the electric light duty truck manufacturer entitled "The Lordstown Motors Mirage: Fake Orders, Undisclosed Production Hurdles, and a Prototype Inferno." According to Hindenburg, the company's claimed 100,000 pre-orders for its EV truck are "largely fictitious and used as a prop to raise capital and confer legitimacy." Hindenburg further cited significant, undisclosed production delays and a prototype that "burst into flames 10 minutes before the test drive" in January 2021, substantiating claims by former employees that the company is not conducting the needed testing or validation required by the NHTSA. On this news, Lordstown shares fell by 17% in one trading day. Then, after the markets closed on March 17, 2021, reports emerged that Lordstown disclosed that the company is the subject of an SEC inquiry for information following the release of the Hindenburg Research report. Then before the markets opened on March 18, 2021, Lordstown's CEO, Stephen Burns, appeared on CNBC and stated "We never said we had orders. We don't have a product yet so by definition you can't have orders." Lordstown shares fell approximately another 9% on this news. Lordstown’s stock price has continued to fall, currently trading around $11 per share.   To learn more about this investigation and your rights, visit: http://barrlaw.com/investor-contact. Representation is contingency based, no out of pocket costs.

Principal Real Estate Income Fund (NYSE: PGZ) Shareholder Rights Investigation

Barr Law Group is investigating Principal Real Estate Income Fund regarding possible breaches of fiduciary duties and other violations of law, including securities claims on behalf of shareholders. To learn more about this investigation and your rights, visit: http://barrlaw.com/investor-contact. Representation is contingency based, no out of pocket costs.

Concerned shareholders are encouraged to contact Leo Kandinov to learn more:

leo@barrlaw.com
(619) 400-4966
www.barrlaw.com

Barr Law Group is a boutique law firm consisting of highly experienced and specialized litigators who represent investors in securities litigation and corporate governance matters. The firm would be happy to further discuss these matters, and any legal rights or remedies potentially available to you, at no charge.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contact:

Leo Kandinov, Partner
leo@barrlaw.com
619-400-4966
501 W Broadway Suite 800
San Diego, CA 92101
www.barrlaw.com