07/02/2019 17:41:40

CLASS ACTION UPDATE for GS, XPO, SOGO and DXC: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, Feb. 07, 2019 (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.

The Goldman Sachs Group, Inc. (NYSE: GS)

Class Period: February 28, 2014 - December 17, 2018

Lead Plaintiff Deadline: February 19, 2019

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

Allegations: The Goldman Sachs Group, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Goldman Sachs participated in a fraud and money-laundering scheme in collusion with 1Malaysia Development Bhd., a Malaysian state-owned investment fund; (2) the foregoing conduct, when revealed, would foreseeably subject Goldman Sachs to heightened regulatory investigations and enforcement; and (3) as a result, Goldman Sachs’s public statements were materially false and misleading at all relevant times.

To learn more about the The Goldman Sachs Group, Inc. class action contact jlevi@levikorsinsky.com.

XPO Logistics, Inc. (NYSE: XPO)

Class Period: February 26, 2014 - December 12, 2018

Lead Plaintiff Deadline: February 12, 2019

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

Allegations: During the class period, XPO Logistics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) XPO’s highly touted aggressive M&A strategy had yielded only minimal returns to the Company; (ii) XPO was utilizing improper accounting practices to mask its true financial condition, including, inter alia, under-reporting of bad debts and aggressive amortization assumptions; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

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

Sogou Inc. (NYSE: SOGO)

Class Period: Purchasers of American Depositary Shares pursuant and/or traceable to Sogou's false and misleading Registration Statement and Prospectus issued in connection with the Company's initial public offering on November 9, 2017

Lead Plaintiff Deadline: March 11, 2019

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

Allegations: Sogou Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Chinese regulators were analyzing Sogou for regulatory action because of an increase in Sogou merchants’ sales of counterfeit goods; (ii) Chinese regulators were analyzing Sogou for regulatory action because Sogou’s existing software, advertising  procedures, personnel, and audit procedures were insufficient to safeguard against compliance violations with governing Chinese  regulations, and would need to be updated, enhanced, and strengthened, thus resulting in increased expenses; (iii) Sogou’s cost of revenues were skyrocketing primarily because of significant increases in Traffic Acquisition Cost, which is a primary driver of Sogou’s cost of revenues, as Sogou was dealing with significant price inflation from increased competition; (iv) Sogou was going to alter its strategy concerning smart hardware and push the Company’s AI capabilities to increase product competitiveness; (v) as a result of altering  its smart  hardware  strategy,  Sogou had already decided to phase out non-AI-enabled hardware products, such as legacy models of Teemo Smart Watch, and transition to use products integrating AI technologies, which Sogou hoped would reduce its hardware  revenue  in the second half of  2018; and (vi) as a result of the foregoing, Sogou’s  public statements were materially false and misleading at all relevant times.

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

DXC Technology Company (NYSE: DXC)

Class Period: February 8, 2018 - November 6, 2018

Lead Plaintiff Deadline: February 25, 2019

Join the action: https://www.zlk.com/pslra-1/dxc-technology-company-loss-form?wire=3

Allegations: DXC Technology Company made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (a) the Company had changed or planned to change the operations of its sales teams, deploying generalized sales teams as opposed to the specialized teams that were better capable of delivering specialized services to its clients; (b) the Company’s workforce optimization strategy of sharply reducing staff while reducing costs was resulting in a shortage of sales personnel who could execute on demand for services, thereby risking and ultimately losing sales and revenue opportunities; (c) in light of the above, the Company’s revenue and financial performance guidance for the fiscal year 2019 and its reaffirmation of the guidance during the Class Period was without a reasonable basis.

To learn more about the DXC Technology Company 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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