Shareholder Rights Law Firm Johnson & Weaver, LLP Initiates Investigations of; Oracle Corporation, K12 Inc., Juno Therapeutics, Inc., Albany Molecular Research Inc. and Insmed Incorporated; Encourages Long-Term Investors to Contact the Firm Regarding Their Legal Rights
SAN DIEGO, July 30, 2016 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential claims against Oracle Corporation, K12 Inc., Juno Therapeutics, Inc., Albany Molecular Research Inc. and Insmed Incorporated, as detailed below:
Oracle Corporation.
Johnson & Weaver, LLP is investigating potential misconduct by the directors and officers of Oracle Corporation (NYSE: ORCL).
On June 2, 2016, shares of Oracle fell 4% after news broke that a former senior finance manager is suing the Company for allegedly firing her for pointing out inappropriate accounting practices in its cloud services business.
According to the complaint, which was filed in California federal court, Oracle's upper management pressured her to "fit square data into round holes" in order to make Oracle's cloud computing business results appear better than they actually were. The former employee also alleges that she was instructed by upper management to add millions of dollars of accruals for expected business "with no concrete or foreseeable billing to support the numbers," and said executives above her added accruals on their own. Johnson & Weaver has done additional research and has reason to believe that Oracle has resorted to questionable tactics to grow its cloud computing business. Further, Johnson & Weaver has discovered that the compensation paid to the audit committee of Oracle's board of directors may be excessive, which could have contributed to an environment that enables company mismanagement.
If the allegations are found factual and you have held shares continuously long-term, you may have standing to hold Oracle's directors and officers accountable for their misconduct and to help restore value to the company. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are an Oracle stockholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
K12 Inc.
Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by K12 Inc. (NYSE: LRN) and certain of its officers. A class action lawsuit against the Company has been filed on behalf of shareholders who purchased K12 between November 7, 2013 and October 27, 2015, (the "Class Period").
The complaint alleges that, among other allegations, throughout the class period, defendants made false and misleading statements and failed to disclose: (1) that K12 was publishing misleading advertisements about students' academic progress, parent satisfaction, graduates' eligibility for University of California and California State University admission, class sizes, the individualized and flexible nature of K12's instruction, hidden costs, and the quality of the materials provided to students; (2) that K12 submitted inflated student attendance numbers to the California Department of Education in order to collect additional funding and (3) that, as a result of the aforementioned practices, the Company was open to potential civil and criminal liability.
If you have held shares continuously prior to November 2013, you may have standing to hold K12 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 K12 shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
Juno Therapeutics, Inc.
Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by Juno Therapeutics, Inc. (NASDAQ: JUNO) and certain of its officers. A class action lawsuit against the Company has been filed on behalf of shareholders who purchased Juno between June 4, 2016 and July 7, 2016, (the "Class Period").
The complaint alleges that, during the Class Period, Juno failed to disclose that a patient died during a clinical trial for its product candidate in May 2016. Juno was thus trading at artificially inflated prices and some insiders participated in heavy selling of shares until July 7, 2016. On July 7, 2016, the Company announced the May 2016 death and two additional deaths during clinical trial, and the Food and Drug Administration put a hold on the trial.
If you have held shares continuously prior to June 2016, or if you have significant losses from stock purchases made between June 4, 2016 and July 7, 2016, inclusive, and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
Albany Molecular Research Inc.
Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by Albany Molecular Research Inc. (NASDAQ: AMRI) and certain of its officers.
On July 26, 2016, the courts denied a motion to dismiss a securities fraud class action filed against Albany. According to the complaint, shares of Albany declined $6.08, or more than 35%, to close at $16.59 per share on November 5, 2014, after the Company issued a press release signaling weak earnings results for its third quarter 2014 and a lowered its full year 2014 financial outlook. Originally, on August 5, 2014, Albany increased its 2014 earnings guidance to a range between $0.87 and $0.92, reflecting its July 2014 acquisition of Oso Biopharmaceuticals Manufacturing. Then, on November 5, 2014, the Company reported a loss of $8.6 million in its third quarter and lowered its full year adjusted diluted EPS guidance to a range between $0.67 and $0.73. The complaint alleges that Albany's revised earning resulted in part from a previously undisclosed power interruption at the Oso Biopharmaceuticals Manufacturing facility that led "to the loss of finished products and the need for remediation work on one of the suites." The complaint alleges that Albany knew about and failed to disclose the 2014 power interruption and as a result, the Company's financial guidance was misleading during the class period.
If you have held shares continuously prior to July 2014, you may have standing to hold Albany 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 an Albany shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
Insmed Incorporated
Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by Insmed Incorporated (NASDAQ: INSM) and certain of its officers. A class action lawsuit against the Company has been filed on behalf of shareholders who purchased Insmed between March 18, 2013 and June 8, 2016, (the "Class Period").
The complaint alleges that Insmed issued false and misleading statements to investors and failed to disclose that: (1) the data supporting Insmed's European marketing authorization application ("MAA") for lead product candidate ARIKAYCE was not likely to be approved by the European Medicines Agency ("EMA") for the treatment of NTM lung disease, and (2) therefore ARIKAYCE'S approval by the EMA and subsequent commercialization in Europe were less likely and imminent than Insmed led investors to believe. On June 8, 2016, Insmed announced it had withdrawn its MAA for ARIKAYCE from the EMA, revealing that the Committee for Medicinal Products for Human Use indicated that the phase 2 study did not provide a sufficient amount of evidence to support an approval.
If you have held shares continuously prior to March 2013, you may have standing to hold Insmed 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 an Insmed shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
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]
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SOURCE Johnson & Weaver, LLP
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