NEW YORK, NY / ACCESSWIRE / September 9, 2020 / 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. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
VEL Shareholders Click Here: https://www.zlk.com/pslra-1/velocity-financial-inc-loss-submission-form?prid=9159&wire=1
GNUS Shareholders Click Here: https://www.zlk.com/pslra-1/genius-brands-international-inc-information-request-form?prid=9159&wire=1
POR Shareholders Click Here: https://www.zlk.com/pslra-1/portland-general-electric-company-information-request-form?prid=9159&wire=1
* ADDITIONAL INFORMATION BELOW *
Velocity Financial, Inc. (NYSE:VEL)
This lawsuit is on behalf of investors who purchased VEL stocks pursuant and/or traceable to the Registration Statement and Prospectus, as amended, issued in connection with Velocity’s January 2020 initial public offering.
Lead Plaintiff Deadline : September 28, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/velocity-financial-inc-loss-submission-form?prid=9159&wire=1
According to the filed complaint, defendants failed to disclose that, at the time of Velocity’s initial public offering (the “IPO”), the Company’s non-performing loans had dramatically increased in size from the figures provided in the Registration Statement and Prospectus that Velocity had issued in connection with the IPO. Further, defendants failed to provide any information to investors regarding the potential impact of the novel coronavirus on Velocity’s business and operations, despite the fact that the international spread of the virus had already been confirmed at the time of the IPO. The failure to disclose the substantial and growing proportion of the Company’s loans that were non-performing and/or on non-accrual status as of the IPO rendered the statements contained in the Registration Statement and Prospectus regarding the quality of the Company’s loan portfolio and underwriting practices materially misleading.
Genius Brands International, Inc (NASDAQ:GNUS)
GNUS Lawsuit on behalf of: investors who purchased March 17, 2020 – July 5, 2020
Lead Plaintiff Deadline : October 19, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/genius-brands-international-inc-information-request-form?prid=9159&wire=1
According to the Genius Brands lawsuit defendants made false and/or misleading statements and/or failed to disclose material information regarding: (i) Nickelodeon’s purported broadcast expansion of Genius’s Rainbow Rangers cartoon; (ii) subscription fees for the Kartoon Channel!; and (iii) the Company’s growth potential and overall prospects as a company.
Portland General Electric Company (NYSE:POR)
POR Lawsuit on behalf of: investors who purchased April 24, 2020 – August 24, 2020
Lead Plaintiff Deadline : November 2, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/portland-general-electric-company-information-request-form?prid=9159&wire=1
According to the filed complaint, during the class period, Portland General Electric Company made materially false and/or misleading statements and/or failed to disclose that: (1) PGE lacked effective internal controls over its energy trading practices; (2) PGE personnel had entered energy trades during 2020, with increasing volume accumulating late in the second quarter and into the third quarter, that created significant negative financial exposure for PGE; (3)as a result, the Company was reasonably likely to incur significant losses; and (4) 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.
You have until the lead plaintiff deadlines to request that 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 nationally recognized 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.