CLASS ACTION UPDATE for WBT, NSANY, VALE and TYME: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, Feb. 06, 2019 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you.

Welbilt, Inc. (NYSE: WBT)
Class Period: February 24, 2017 – November 2, 2018
Lead Plaintiff Deadline: February 11, 2019
Join the action: https://www.zlk.com/pslra-1/welbilt-inc-loss-form?wire=3

Allegations: Welbilt, Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (i) the Company lacked effective internal control over financial reporting; (ii) the Company was incorrectly recording the tax basis of foreign subsidiaries and the amortization of their intangible assets; and (iii) as a result of the foregoing, Defendants’ statements about Welbilt’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. 

On November 5, 2018, Welbilt filed a Form 8-K for its Q3 2018, stating that “During the third quarter of 2018, the Company identified errors in the tax basis of a foreign subsidiary and incorrect amortization of the intangible assets held by the same entity… In addition, the Company discovered certain intercompany transactions were not recorded on a timely basis.” As a result of these errors, Welbilt announced that “the consolidated financial statements of the Company as of and for the year ended December 31, 2016 will be restated, and as of and for the years ended December 31, 2015 and 2017 are expected to be revised.”

To learn more about the Welbilt, Inc. class action contact [email protected].

Nissan Motor Co., Ltd. (OTCMKTS: NSANY)
Class Period: December 10, 2013 – November 16, 2018
Lead Plaintiff Deadline: February 8, 2019
Join the action: https://www.zlk.com/pslra-1/nissan-motor-co-ltd-loss-form?wire=3

Allegations: Nissan Motor Co., Ltd. made materially false and/or misleading statements and/or failed to disclose that: (1) for more than a decade, Nissan had been materially understating its costs–and thus overstating profits–by paying a material portion of Ghosn’s executive compensation in the form of billions of Yen of deferred compensation that the Company was concealing from its public financial reports; (2) in so doing, Nissan was concealing from investors significant defects in its corporate governance; (3) Nissan’s overpayment of defendant Ghosn had caused it to exceed its shareholder-approved executive pay cap, thus threatening its continued stock listing; (4) Nissan lacked effective internal and reporting controls; and (5) as a result, defendants’ statements about Nissan’s business metrics, operations, and financial prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

To learn more about the Nissan Motor Co., Ltd. class action contact [email protected].

Vale S.A. (NYSE: VALE)
Class Period: April 13, 2018 – January 28, 2019
Lead Plaintiff Deadline: March 29, 2019
Join the action: https://www.zlk.com/pslra-1/vale-s-a-loss-form?wire=3

Allegations: Vale S.A. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) Vale had failed to adequately assess the risk and damage potential of a dam breach at its Feijão iron ore mine; (2) Vale’s programs to mitigate health and safety incidents were inadequate; (3) consequently, several people were killed and hundreds more were reported missing after Vale’s dam at its Feijão mine was breached; and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

To learn more about the Vale S.A. class action contact [email protected].

Tyme Technologies, Inc. (NASDAQCM: TYME)
Class Period: March 14, 2018 – January 18, 2019
Lead Plaintiff Deadline: March 29, 2019
Join the action: https://www.zlk.com/pslra-1/tyme-technologies-inc-loss-form?wire=3

Allegations: Tyme Technologies, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Tyme had not adequately designed the Phase II Study to present reliable results on the efficacy of SM-88 on pancreatic cancer; (ii) Tyme had failed to include an appropriate control group in its open-label Phase II clinical trial for SM-88; (iii) the omission of an appropriate control group distorted the reliability of data showing the efficacy of SM-88 in the Phase II Study; and (iv) as a result, Tyme’s public statements were materially false and misleading at all relevant times.

To learn more about the Tyme Technologies, Inc. class action contact [email protected].

You have until the lead plaintiff deadlines to request the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com