Johnson Fistel Announces Investigations of CenturyLink, Inc., AmTrust Financial Services Inc., and Ellie Mae Inc.; Investors Encouraged to Contact Firm
SAN DIEGO, Sept. 23, 2017 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP is investigating potential claims against CenturyLink, Inc., AmTrust Financial Services Inc., and Ellie Mae Inc. as detailed below:
CenturyLink, Inc.
Shareholder Rights Law Firm Johnson Fistel, LLP today announced that it is investigating whether certain officers or directors of CenturyLink, Inc. (NYSE: CTL) ("CenturyLink ") violated federal or state laws.
A Securities Class Action Complaint was filed on behalf of those who purchased securities of CenturyLink between March 1, 2013 through June 15, 2017. The complaint alleges that defendants during the Class Period made false and misleading statements and failed to disclose that: (1) CenturyLink's policies allowed its employees to add services or lines to accounts without customer permission, resulting in millions of dollars in unauthorized charges to CenturyLink customers; (2) accordingly, CenturyLink's revenues were the product of illicit conduct and unsustainable; (3) the foregoing illicit conduct was likely to subject CenturyLink to heightened regulatory scrutiny; and (4) as a result, CenturyLink's public statements were materially false and misleading at all relevant times.
On June 16, 2017, Bloomberg reported that a lawsuit had been filed by former CenturyLink employee Heidi Heiser alleging that Heiser was fired days after notifying Chief Executive Officer Glen Post of CenturyLink's high-pressure sales culture that left customers paying millions of dollars for accounts they didn't request. Following this news, shares of CenturyLink fell over 4%.
If you are a long-term shareholder of CenturyLink shares and continuously held shares before March 1, 2013, you may have standing to hold CenturyLink harmless from the damage the officers and directors may have 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 long-term CenturyLink shareholder continuously holding shares before March 1, 2013, and are interested in learning more about your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
AmTrust Financial Services Inc.
Shareholder Rights Law Firm Johnson Fistel, LLP today announced that it is investigating whether certain officers or directors of AmTrust Financial Services Inc. (NASDAQ: AFSI) ("AmTrust ") violated federal or state laws.
A Securities Class Action Complaint was filed on behalf of those who purchased securities of AmTrust between February 14, 2013 through April 10, 2017.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) AmTrust had ineffective assessment of the risks associated with the financial reporting; (2) AmTrust had an insufficient complement of corporate accounting and corporate financial reporting resources within the organization; (3) in turn, AmTrust lacked effective controls over financial reporting; and (4) as a result, defendants' statements about AmTrust's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. On February 27, 2017, AmTrust issued a press release revealing that it had identified material weaknesses in its internal control over financial reporting that existed as of December 31, 2016.
If you are a long-term shareholder of AmTrust shares and continuously held shares before February 14, 2013, you may have standing to hold AmTrust harmless from the damage the officers and directors may have 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 long-term AmTrust shareholder continuously holding shares before February 14, 2013, and are interested in learning more about your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
Ellie Mae Inc.
Johnson Fistel, LLP is investigating potential violations of the federal securities laws by Ellie Mae Inc. (NYSE: ELLI) ("Ellie Mae" or the "Company") and certain of its officers.
On July 27, 2017, Ellie Mae reported its second quarter 2017 financial results for the period ended June 30, 2017. Revenue came in at $104.1 million, well below guidance. Additionally, Ellie Mae slashed its FY17 sales forecast and disclosed that FY17 adjusted income would come in almost 40% lower than the range that Ellie Mae had previously provided. Following the news, Ellie Mae common stock plummeted. In the months preceding the July 27, 2017, announcement many of the Company's senior executives and directors sold stock.
Specifically, Johnson Fistel's investigation seeks to determine if a securities violation was committed by the Company when it made specific representations about the company's business, operations, and financial prospects.
If you have information that could assist in this investigation, including former employees and others, or if you are an Ellie Mae shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) by email or by phone at 619-814-4471. If you email, please include your phone number.
About Johnson Fistel, LLP:
Johnson Fistel, 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.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]
SOURCE Johnson Fistel, LLP
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