SAN DIEGO, Jan. 20, 2017 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP, is investigating potential claims against Rent-A-Center, Inc., KalVista Pharmaceuticals, Inc., NovoCure Limited, and Inotek Pharmaceuticals Corp., as detailed below:
Rent-A-Center, Inc.
Johnson & Weaver, LLP is investigating potential violations of federal and state laws by Rent-A-Center, Inc. (NASDAQ: RCII). A class action lawsuit against the Company has been filed on behalf of shareholders who purchased Rent-A-Center stock between July 27, 2015, through October 10, 2016, (the "Class Period").
According to the complaint, Defendants made false and misleading statements and failed to disclose that: (1) Rent-A-Center could not properly implement its new point of sale system ("POS"); (2) the POS was performing extremely poorly, including several complete outages; (3) as a result, Rent-A-Center's Acceptance Now credit system could not be implemented properly; (4) Rent-A-Center could not meet revenue and profitability guidance provided to investors; (5) as such, Rent-A-Center would need to revise its prior guidance; and (6) as a result, Defendants' statements about Rent-A-Center's business, operations and prospects, were false and misleading and lacked a reasonable basis.
If you have held Rent-A-Center shares continuously prior to July 27, 2015, you may have standing to hold Rent-A-Center 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 Rent-A-Center shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at 619-814-4471. If you email, please include your phone number.
KalVista Pharmaceuticals, Inc.
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by KalVista Pharmaceuticals, Inc. (NASDAQ: KALV), formerly named Carbylan Therapeutics, Inc.
On February 1, 2016, KalVista stock plunged nearly 50 percent after the company disclosed top-line results from a Phase 3 trial, COR1.1. Then, in April 2016, KalVista announced that it was suspending further clinical development of its pain relief product, Hydros–TA, and it is actively pursuing a merger or acquisition of the company. In concurrence, KalVista also announced an immediate reduction in its workforce of 14 of its current 17 employees to preserve capital. Specifically, Johnson & Weaver's investigation seeks to determine whether certain statements regarding the Company's business metrics and financial prospects were not as strong as represented in the Company's offering documents filed in connection with its April 9, 2015 initial public offering.
If you have information that could assist in this investigation, including past employees and others, or if you are a KalVista shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (jimb@johnsonandweaver.com) by email or phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
NovoCure Limited
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by NovoCure Limited (NASDAQ: NVCR).
On July 28, 2016, NovoCure made known that its new Optune prescriptions fell to 657 in 2Q from 755 in 1Q. Asaf Danziger, Chief Executive Officer of NovoCure stated that "[w]hile barriers to full adoption remain, I am optimistic we will overcome the challenges inherent in bringing a completely new therapy into widespread clinical use." On this news, NovoCure's stock fell nearly 30% on July 28, 2016.
Specifically, Johnson & Weaver's investigation seeks to determine whether certain statements regarding the Company's business metrics and financial prospects were not as strong as represented in the Company's offering documents filed in connection with its October 2, 2015 initial public offering.
If you are a NovoCure shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at 619-814-4471. If you email, please include your phone number.
Inotek Pharmaceuticals Corp.
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by Inotek Pharmaceuticals Corp. (NASDAQ: ITEK). A class action lawsuit against the Company has been filed on behalf of shareholders who purchased Inotek stock between July 23, 2015 and December 30, 2016, inclusive (the "Class Period").
The complaint alleges that, throughout the Class Period, Inotek misrepresented the efficacy of its drug candidate trabodenoson - the only drug Inotek currently has in its clinical development pipeline and its attendant capacity to receive New Drug Approval by the U.S. Food and Drug Administration. In particular, it is alleged that the Company made positive statements about the drug despite knowledge that the MATrX-1 phase 3 clinical trial of trabodenoson would fail to meet its primary endpoint of statistical relevance in the reduction of intraocular pressure compared with placebo.
On January 3, 2017, Inotek announced that the Phase 3 trial of trabodenoson had failed to achieve this primary endpoint. Following this news, shares of Inotek fell from a closing price of $6.10 on December 30, 2016, to a $1.75 closing price per share on January 3, 2017.
If you wish to serve as a lead plaintiff, you must move the Court no later than March 7, 2017. If you wish to discuss this action, have any questions concerning this notice, or your rights or interests, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) 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.
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
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP