CLASS ACTION UPDATE for AMRN, CNDT, NIO and CRBP: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, March 19, 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.

Amarin Corporation (AMRN)
Class Period: September 24, 2018 - November 9, 2018
Lead Plaintiff Deadline: April 23, 2019
Join the action: https://www.zlk.com/pslra-1/amarin-corporation-loss-form?wire=3

Allegations: Amarin Corporation made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) the top-line results Amarin touted about its REDUCE-IT trial for Vascepa were not as positive as the company represented; (2) the placebo given to patients in the control arm of REDUCE-IT may have increased the incidence of cardiovascular events in those patients; (3) as a result, Amarin's public statements were materially false and misleading at all relevant times.

To learn more about the Amarin Corporation class action contact [email protected].

Conduent Incorporated (CNDT)
Class Period: February 21, 2018 - November 6, 2018
Lead Plaintiff Deadline: May 7, 2019
Join the action: https://www.zlk.com/pslra-1/conduent-incorporated-loss-form?wire=3

The complaint alleges that by February 2018, defendants began to represent to investors that Conduent had exited the transformation phase and had cured inefficiencies caused by operating on multiple information resource platforms. However, as demonstrated by defendants’ admissions on November 7, 2018, those representations were false, and Conduent remained mired in inadequate technology and third-party agreements that it had been saddled with upon its divestiture from Xerox.  During a November 7, 2018 conference call, CEO Ashok Vemuri stated “we have had continued suboptimal performance from an inherited legacy technology vendor. The performance issues stem from the vendors inability to deliver on service level agreements, lack of responsiveness to Conduent’s needs, and poorly structured contracts which we inherited.” Vemuri also noted that an “outdated and historically under-invested legacy IT infrastructure has caused major disruptions to our operations and impacted client and delivery performance.” 

To learn more about the Conduent Incorporated class action contact [email protected].

NIO Inc. (NIO)
Class Period: Purchasers of American Depositary Shares between September 12, 2018 and March 5, 2019
Lead Plaintiff Deadline: May 13, 2019
Join the action: https://www.zlk.com/pslra-1/nio-inc-loss-form?wire=3

Allegations: During the class period, NIO Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) NIO would not be building its own manufacturing plant and would instead continue to rely on JAC Auto to manufacture its vehicles; (2) reductions in government subsidies for electric cars would materially impact NIO’s sales; and (3) as a result, Defendants’ statements about NIO’s business, operations, and prospects were materially false and misleading at all  relevant times.

To learn more about the NIO Inc. class action contact [email protected].

Corbus Pharmaceutical Holdings, Inc. (CRBP)
Class Period: November 14, 2016 - February 28, 2019
Lead Plaintiff Deadline: May 13, 2019
Join the action: https://www.zlk.com/pslra-1/corbus-pharmaceutical-holdings-inc-loss-form?wire=3

Allegations: Corbus Pharmaceutical Holdings, Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) Corbus improperly changed the primary efficacy endpoint for the clinical study of its drug candidate, Lenabasum, after the results were unblinded to Corbus; (2) Corbus reported a one-sided p value, not the traditional two-sided p value normally reported in clinical trials, in an effort to conceal the fact that the study results did not have statistical significance; and (3) as a result, Corbus’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.