Johnson & Weaver, LLP Announces Investigations of The Southern Company, Illumina, Inc., PixarBio Corporation and Midcoast Energy Partners, L.P.
SAN DIEGO, Jan. 28, 2017 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP, is investigating potential claims against The Southern Company, Illumina, Inc., PixarBio Corporation and Midcoast Energy Partners, L.P., as detailed below:
The Southern Company
Shareholder Rights Law Firm Johnson & Weaver, LLP announces the filing of a class action lawsuit on behalf of purchasers of The Southern Company (NYSE: SO) from April 25, 2012, and October 29, 2013, both dates inclusive (the "Class Period"). The lawsuit seeks to recover damages for Southern Company investors under the federal securities laws.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and failed to disclose adverse information about the progress of the Kemper Plant, reassuring investors that the project would be completed by the critical May 2014 deadline, even after cost overruns and other delays began to materialize. Once the true details were made known to the investing public, the lawsuit claims that investors suffered damages.
If you have held Southern Company shares continuously prior to April 25, 2012, you may have standing to hold Southern Company harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a Southern Company shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
Illumina, Inc.
Shareholder Rights Law Firm Johnson & Weaver, LLP announces the filing of a class action lawsuit on behalf of purchasers of Illumina, Inc. (NASDAQ: ILMN) from July 26, 2016, and October 10, 2016, both dates inclusive (the "Class Period"). The lawsuit seeks to recover damages for Illumina investors under the federal securities laws.
According to the lawsuit, Defendants made materially false and misleading statements regarding the Company's business, operations and prospects, including overstating demand for its high throughput sequencing instruments. Specifically, Defendants made false and misleading statements and failed to disclose: (1) that the Company was experiencing a large decline in high throughput sequencing instrument sales; (2) that the decline was negatively impacting the Company's revenue; (3) that the Company lacked visibility into trends that could have a substantial impact on the Company's financial results; (4) that, as such, the Company's revenue guidance was unreliable and overstated; and (5) that, as a result of the foregoing, Defendants' positive statements about Illumina's business, operations, and prospects, were false and misleading and lacked a reasonable basis.
If you wish to serve as a lead plaintiff, you must move the Court no later than February 14, 2017. If you wish to discuss this action, have any questions concerning this notice, or your rights or interests, please contact Jim Baker ([email protected]) by email or by phone at 619-814-4471. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
PixarBio Corporation
Shareholder Rights Law Firm Johnson & Weaver, LLP announces the filing of a class action lawsuit on behalf of purchasers of PixarBio Corporation securities (OTC: PXRB) from October 31, 2016, through January 20, 2017, both dates inclusive (the "Class Period"). The lawsuit seeks to recover damages for PixarBio investors.
According to the lawsuit, throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) the market for PixarBio's securities exhibited manipulative or deceptive activities; (2) PixarBio's statements in press releases, third-party promotional materials, and its Form S-1 regarding, among other things, PixarBio's business combinations and current shareholders; the identity and qualifications of key shareholders and employees and its current and prospective development efforts lacked accuracy; and (3) consequently, Defendants' public statements were materially false and misleading at all relevant times.
On January 23, 2017, the SEC disclosed the temporary suspension of PixarBio trading "because the market for the security appears to reflect manipulative or deceptive activities and because of questions regarding the accuracy of assertions by PixarBio in press releases and its Form S-1 concerning, among other things: (1) the Company's business combinations and current shareholders; (2) the identity and qualifications of key shareholders and employees; and (3) the Company's current and prospective development efforts."
If you wish to serve as a lead plaintiff, you must move the Court no later than March 27, 2017. If you wish to discuss this action, have any questions concerning this notice, or your rights or interests, please contact Jim Baker ([email protected]) by email or by phone at 619-814-4471. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Midcoast Energy Partners, L.P.
Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Midcoast Energy Partners, L.P. (NYSE: MEP) breached their fiduciary duties in connection with the proposed acquisition of Midcoast's outstanding units by Enbridge Energy Company, Inc.
Under the terms of the proposed transaction, Enbridge will acquire, for cash, all of the outstanding publicly held common units of Midcoast at a price of $8.00 per common unit.
The investigation concerns whether the Midcoast board failed to satisfy their duties to the Company unit holders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Midcoast shares of common units. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration.
If you own the common units of Midcoast and purchased the units before January 27, 2017, and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
[email protected]
SOURCE Johnson & Weaver, LLP
Share this article