31/12/2018 15:09:00

CLASS ACTION UPDATE for NKTR, FIT, WBT and XRAY: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, Dec. 31, 2018 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you.

Nektar Therapeutics (NASDAQ: NKTR)

Class Period: November 11, 2017 - October 2, 2018

Lead Plaintiff Deadline: December 31, 2018

Join the action: https://www.zlk.com/pslra-1/nektar-therapeutics-loss-form?wire=3

About the lawsuit: During the class period, Nektar Therapeutics allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) prior studies which attempted to pegylate IL-2 failed; (2) the extended half-life of the Company's lead I-O candidate, NKTR-214, was unlikely to result in efficacy and created additional high-dosing safety concerns; (3) NKTR-214 was less effective than IL-2 alone; (4) the combination of NKTR-214 with nivolumab has yet to demonstrate significant positive results; and (5) as a result, Nektar’s public statements as set forth above were materially false and misleading at all relevant times.

To learn more about the Nektar Therapeutics class action contact jlevi@levikorsinsky.com.

Fitbit Inc. (NYSE: FIT)

Class Period: August 2, 2016 - January 30, 2017

Lead Plaintiff Deadline: December 31, 2018

Join the action: https://www.zlk.com/pslra-1/fitbit-inc-loss-form?wire=3

About the lawsuit: Throughout the class period, Fitbit Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) the company was struggling to transition its mission and differentiate itself from Apple Inc. and other competitors; (2) as such, the Company was experiencing increased competition; (3) as a result, demand and sell-through for the Company’s existing and new products were being negatively impacted; (4) as a result, the Company’s sales and financial results were weakening, and growth was slowing; (5) the Company’s financial guidance was overstated; and (6) as a result of the foregoing, Defendants’ statements during the Class Period about Fitbit’s business, operations, financial results and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

To learn more about the Fitbit Inc. class action contact jlevi@levikorsinsky.com.

Welbilt, Inc. (NYSE: WBT)

Class Period: February 24, 2017 - November 2, 2018

Lead Plaintiff Deadline: February 11, 2019

Join the action: https://www.zlk.com/pslra-1/welbilt-inc-loss-form?wire=3

About the lawsuit: Welbilt, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (i) the Company lacked effective internal control over financial reporting; (ii) the Company was incorrectly recording the tax basis of foreign subsidiaries and the amortization of their intangible assets; and (iii) as a result of the foregoing, Defendants’ statements about Welbilt’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.  On November 5, 2018, Welbilt filed a Form 8-K for its Q3 2018, stating that “During the third quarter of 2018, the Company identified errors in the tax basis of a foreign subsidiary and incorrect amortization of the intangible assets held by the same entity… In addition, the Company discovered certain intercompany transactions were not recorded on a timely basis.” As a result of these errors, Welbilt announced that “the consolidated financial statements of the Company as of and for the year ended December 31, 2016 will be restated, and as of and for the years ended December 31, 2015 and 2017 are expected to be revised.”

To learn more about the Welbilt, Inc. class action contact jlevi@levikorsinsky.com.

Dentsply Sirona, Inc. (NASDAQ: XRAY)

Class Period: February 20, 2014 - August 7, 2018

Lead Plaintiff Deadline: February 9, 2019

Join the action: https://www.zlk.com/pslra-1/dentsply-sirona-inc-loss-form?wire=3

The complaint alleges that during the Class Period, Defendants attributed the Company’s financial performance to the Company’s “innovation,” “operational improvement efforts,” “new products,” and “continued investments in sales and marketing” and told investors that these factors helped the Company succeed despite the “highly competitive” market for its products. In reality, the Company’s financial results had been buoyed by an anticompetitive scheme among the Company’s three primary distributors that suppressed competition in the dental supply market and artificially inflated the price of dental supplies sold by Dentsply. Further, Defendants concealed that an exclusive distribution arrangement that Sirona had with one of its distributors, Patterson Companies, Inc. (“Patterson”), required Patterson to regularly make large minimum purchases regardless of demand and, as a result, by 2015, Patterson had been supplied with so much excess inventory that it could not be sold. This channel-stuffing rendered the Company’s reported sales, financial results and guidance materially false and misleading.  In addition, the Company represented that it reported its financial statements, including its goodwill, in accordance with generally accepted accounting principles, or GAAP. In fact, the Company’s reported goodwill was artificially inflated and not reported in accordance with GAAP because it did not reflect the financial impact of the anticompetitive scheme.

To learn more about the Dentsply Sirona, Inc. class action contact jlevi@levikorsinsky.com.

You have until the lead plaintiff deadlines to request the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

jlevi@levikorsinsky.com

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com 

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