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Stock Losses

Spectranetics sued by shareholders for fraud

This lawsuit alleges that executives at Spectranetics failed to properly warn of problems in its revenue forecasts and this failure to fully disclose these problems led to an artificially inflated stock price.

 

Advanced Imaging for Joint Replacement Systems

     This securities fraud class action alleges that ConforMIS knew of manufacturing problems relating to its joint replacement devices during its IPO and immediately thereafter but failed to warn investors. Less than two months after its IPO, ConforMIS announced that it was recalling 950 joint replacement devices (650 of which had already been used to place joint implants in patients) for an apparent manufacturing problem.

CaesarStone Surface

     This securities fraud class action alleges that CaesarStone  failed to disclose a whole series of negative news developments to investors in real time and in fact purposely kept the news from them.

El Pollo Loco shareholder lawsuit

This lawsuit alleges that executives at El Pollo Loco hid from investors the negative impact of rising labor and food costs and the decrease in same store traffic so that insiders could sell millions of dollars of stock at artificially inflated prices.

TNET securities fraud class action lawsuit

This lawsuit alleges that TriNet did not properly model medical and insurance costs for its workers compensation services, thereby overstating revenues and net income for the time period in question.  What makes these allegations partially troubling is that the industry as a whole seemed to be adjusting costs upward at a time when the company was assuring investors it did not need to do the same.

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