NEW YORK, April 12, 2020 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Helios Technologies, Inc. ("Helios" or the "Company") (NASDAQ: HLIO). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Helios and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 9, 2020, during pre-market hours, Helios announced that its Board of Directors (the "Board") had named its Chief Financial Officer as Interim President and Chief Executive Officer ("CEO") of the Company, effective immediately. With regard to the transition, Helios disclosed that Wolfgang H. Dangel, who had until then been serving as the Company's CEO, had "separated from the Company following the Board's determination that he violated Company policy, demonstrated behavior that was inconsistent with the Company's core values and Code of Business Conduct and Ethics, and also exhibited poor judgment involving a consensual relationship with an employee." On this news, Helios's stock price fell $1.65 per share, or 4.94%, to close at $31.78 per share on April 9, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP