BOSTON, May 17, 2017 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, announces an expanded Class Period in securities class actions against Celadon Group Inc. ("CGI" or the "Company") (NYSE: CGI) and reminds shareholders of the June 19, 2017 lead plaintiff deadline.
On May 17, 2017, Block & Leviton filed a securities fraud lawsuit against CGI, expanding the class period from January 27, 2016 through May 2, 2017, inclusive ("Class Period").
Shareholders who purchased or otherwise acquired CGI securities during the Class Period and have questions about their legal rights or want to become involved in the litigation are encouraged to contact attorney Bradley Vettraino at (617) 398-5600, by email at Bradley@blockesq.com or by visiting www.blockesq.com/cgi.
On April 5, 2017, Prescience Point Research Group published a report on the investor website Seeking Alpha alleging that "CGI has used …. manipulative accounting practices to hide its insolvent condition from investors and creditors." On this news, CGI shares fell nearly 14%, to close at $4.20 on April 19, 2017.
On April 19, the same research group published a follow-up report claiming that the research group was denied information about CGI from the government due to an apparent ongoing SEC investigation. On this news, shares to fall another 5% to close at $4.20 on April 19, 2017.
Then, on May 1, 2015, CGI disclosed that "the Company's financial statements for the fiscal year ended June 30, 2016 and quarters ended September 30 and December 31, 2016, and related reports of [CGI's auditor], should not be relied upon."
On this news, shares plunged 55% to close at $1.80 on May 2, 2017, causing tens of millions in losses to investors.
The lead plaintiff deadline in the securities actions against CGI is June 19, 2017. As a member of the class, you may seek to file a motion to serve as a lead plaintiff by June 19, 2017, or take no action and remain an absent class member.
Confidentiality assured to whistleblowers or others with information relevant to this investigation is assured.
Block & Leviton LLP is a Boston-based law firm representing investors nationwide. The firm's lawyers have collectively been prosecuting securities cases on behalf of individual and institutional investors for over 50 years, and have recovered billions of dollars on their behalf. Block & Leviton's investigations into corporate wrongdoing were recently covered by the New York Times.
This notice may constitute attorney advertising.
Block & Leviton LLP
Bradley J. Vettraino
155 Federal Street, Suite 400
Boston, MA 02110
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SOURCE Block & Leviton LLP