DEADLINE ALERT for VAL, MDP, VRAY, and CADE: Law Offices of Howard G. Smith Reminds Investors of Class Actions on Behalf of Shareholders

/EIN News/ -- BENSALEM, Pa., Oct. 15, 2019 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith 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 Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

Valaris plc (NYSE: VAL)
Class Period: April 11, 2019 - July 31, 2019
Lead Plaintiff Deadline: October 21, 2019

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 Valaris was plagued by a weak ultra-deepwater segment, massive cash usage, and significant negative cash flow; (2) that the foregoing was reasonably likely to have a material negative impact on Valaris’ second quarter 2019 results; (3) that the merger leading to Valaris’ establishment could not deliver on its touted benefits; and (4) that as a result, Valaris’ public statements were materially false and misleading at all relevant times.

Meredith Corporation (NYSE: MDP)
Class Period: January 31, 2018 - September 5, 2019
Lead Plaintiff Deadline: November 5, 2019

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) the Time, Inc. acquisition was not as profitable as the Company had claimed; (2) that the Company would incur additional costs for strategic investments to improve the Time business; (3) that, as a result, the Company’s earnings would be materially and adversely impacted; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

ViewRay, Inc. (NASDAQ: VRAY)
Class Period: March 15, 2019 - August 8, 2019
Lead Plaintiff Deadline: November 12, 2019

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 demand for ViewRay systems had declined due in part to changes being made to Medicare reimbursement approaches first announced in November 2019 that could make purchases of new ViewRay systems less profitable for customers; (2) that the Company’s reported backlog was overstated due to the inclusion of orders with insufficient surety as to permit for their inclusion in reported backlog; and (3) that as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Cadence Bancorporation (NYSE: CADE)
Class Period: July 23, 2018 - July 22, 2019
Lead Plaintiff Deadline: November 15, 2019

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 Company lacked adequate internal controls to assess credit risk; (2) that, as a result, certain of the Company’s loans posed an increased risk of loss; (3) that, as a result, the Company was reasonably likely to incur significant losses for certain loans; (4) that the Company’s financial results would suffer a material adverse impact; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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. 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com