Cnova NV Investigated For Potential Securities Law Violations By Block & Leviton LLP

Dec 22, 2015, 09:43 ET from Block & Leviton LLP

BOSTON, Dec. 22, 2015 /PRNewswire/ -- Cnova NV ("Cnova" or the "Company") (NASDAQ: CNV) is being investigated by Block & Leviton LLP, a Boston-based law firm representing investors nationwide, following news that Cnova and certain of its officers and directors may have made material misstatements concerning the Company's inventory management.

On Friday, December 18, Cnova disclosed that it had "engaged legal advisors and external forensic accountants to perform a review of issues in connection with employee misconduct related to inventory management," and that "[t]he investigation will also assess any accounting and financial statement impact of the conduct under review."

On this news, Cnova's stock price fell 18% to close at $2.45 on Monday, resulting in a loss of more than a $200 million in the Company's market capitalization.

If you purchased or otherwise acquired Cnova securities on or before December 18, 2015, and have questions about your legal rights or possess information relevant to this investigation, please contact either attorney Steven Harte at (617) 398-5600 or email him at Steven@blockesq.com or attorney Brad Vettraino at (617) 398-5600 or email him at Bradley@blockesq.com. Confidentiality to whistleblowers or others with relevant information is assured.

This notice may constitute attorney advertising.

Contact:          BLOCK & LEVITON LLP Steven Harte 155 Federal St Boston MA 02110 (617) 398-5600 Steven@blockesq.com

 

SOURCE Block & Leviton LLP



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