Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
noyb Files GDPR Complaints Against TikTok, Grindr, and AppsFlyer Over Alleged Illegal Data Tracking. 
Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
FedEx Beats Q2 Earnings Expectations, Raises Full-Year Outlook Despite Stock Dip 
WILMINGTON, Del., Feb. 01, 2016 -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Cnova N.V. (Nasdaq:CNV)?
- Did you purchase your shares between November 19, 2014 and December 18, 2015, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a class action complaint (the “Complaint”) has been filed in the United States District Court for the Southern District of New York on behalf of investors who purchased the securities of Cnova N.V. (“Cnova” or the “Company”) between November 19, 2014 and December 18, 2015 (the “Class Period”) alleging that certain officers and directors of the Company violated the federal securities laws.
The Complaint alleges that during the Class Period, the defendants failed to disclose that Cnova issued misleading financial statements by failing to disclose that the Company lacked adequate internal financial controls and that it had overstated net sales, failed to properly write-off the value of returned items, misstated accounts receivable for damaged/returned items, and overstated EBIT.
On December 18, 2015, Cnova disclosed that it had engaged legal advisors and external forensic accountants to review issues relating to employee misconduct in connection with inventory management and to assess any accounting and financial statement impacts. The next trading day, December 21, 2015, the price of Cnova’s stock price fell from $2.95 per share to close at $2.42 per share.
If you wish to serve as lead plaintiff, you must move the Court no later than March 21, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
If you suffered a loss in Cnova and would like to obtain additional information, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail at [email protected]; or at http://rigrodskylong.com/investigations/cnova-nv-cnv/.
Attorney advertising. Prior results do not guarantee a similar outcome.
CONTACT: Rigrodsky & Long, P.A. Timothy J. MacFall, Esquire Peter Allocco (888) 969-4242 (516) 683-3516 Fax: (302) 654-7530 [email protected] http://www.rigrodskylong.com
