Securities & Investment Fraud

HD Supply Holdings, Inc. Securities Class Litigation

Securities and Financial Fraud

Introduction

Securities fraud class action litigation has been filed on behalf of investors in the securities of HD Supply Holdings, (“HD Supply” or the “Company”) (Nasdaq: HDS).  If you purchased or otherwise acquired the securities of HD Supply between November 9, 2016 and June 5, 2017, inclusive (the “Relevant Period”), you may move the court for appointment as lead plaintiff by no later than September 11, 2017.

You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the actions.  Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market.  We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.

HD Supply investors may choose to have Lieff Cabraser review their claim by completing the contact form below.  You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.

Background on the HD Supply Securities Class Litigation

HD Supply, based in Atlanta, Georgia, HD Supply Holdings, Inc. is one of the largest industrial distributors in North America.

The action alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) HD Supply could not meet its full year 2017 growth and operational leverage targets; (2) the operational recovery of its Facilities Maintenance (“FM”) supply chain was not “on track” as the Company had claimed; and (3) HD Supply was divesting its key Waterworks segment.  During the Class Period, when HD Supply’s stock price traded at artificially inflated levels, Defendant Joseph DeAngelo, Chief Executive Officer (“CEO”) and Chair of HD Supply, sold $54 million of his personal Company stock.

In early 2016, HD Supply’s FM segment experienced supply chain issues leading to a large build-up of inventory at HD Supply’s distribution centers. The Company took remedial actions to rebalance its inventory throughout the country. Defendants claimed in November 2016 that the FM recovery was “on track” and that HD Supply was “perfectly positioned to enter 2017 and deliver on [its] commitments of 300 basis points more than market, one-and-a-half times operating leverage and 75% cash generation.”’

On June 6, 2017, HD Supply reported disappointing Q1 2017 earnings and that it had agreed to sell Waterworks, the nation’s largest distributor of water, sewer, storm and fire protection products and a key business segment for HD Supply.  The Company also announced increased capital investments in its FM segment, so it had to reduce its operating leverage targets for 2017.  On this news, HD Supply’s share price declined $7.24 per share, or 17.5%, from a close of $41.27 per share on June 5, 2017 to a close of $34.03 per share on June 6, 2017, on extremely heavy trading volume. The following day, HD Supply’s share price dropped an additional $1.22 per share, for a total two-day drop of 20.49%.

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II. TRANSACTIONS IN HD SUPPLY SECURITIES

Number of shares of HD Supply securities held immediately before the start of the Class Period on November 9, 2016:

From November 9, 2016 through June 5, 2017, inclusive, I made the following transactions in HD Supply securities:

PURCHASES

Date
No. of Shares
Price

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SALES

Date
No. of Shares
Price

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During the 90 days after June 5, 2017, I made the following transactions in HD Supply securities:

SALES

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No. of Shares
Price

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Comments & questions:

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About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Seattle, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.

The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for fourteen years.  In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.”  Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.”  In late 2016, Benchmark Litigation named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America.”

Tahoe Resources, Inc. Securities Class Litigation

Securities and Financial Fraud

Introduction

Securities fraud class action litigation has been filed on behalf of investors in the securities of Tahoe Resources, Inc. (“Tahoe” or the “Company”) (NYSE: TAHO). If you purchased or otherwise acquired Tahoe securities between April 3, 2013 and July 5, 2017, inclusive (the “Relevant Period”), you may move the court for appointment as lead plaintiff by no later than September 5, 2017.

You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the actions. Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.

Tahoe investors may choose to have Lieff Cabraser review their claim by completing the contact form below. You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.

Background on the Tahoe Securities Class Litigation

Tahoe, incorporated in British Columbia, Canada and headquartered in Reno, Nevada, explores, develops, and operates mines in the Americas. The Company holds interest in the Escobal silver mine property located in southeast Guatemala.

The action alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that the Ministry of Energy and
Mines of Guatemala (“MEM”) had not met certain consulting obligations in advance of granting the Escobal mining license to Tahoe’s subsidiary, Minera San Rafael, and thus the Escobal mining license was subject to suspension.

On May 24, 2017, Tahoe revealed that the human rights organization Centro de Acción Legal Ambiental y Social de Guatemala (“CALAS”) had filed claim against MEM for allegedly violating the Xinca indigenous people’s right of consultation prior to granting the mining license.

On July 6, 2017, the Company announced that the Supreme Court of Guatemala had provisionally suspended Minera San Rafael’s Escobal mining license in connection with CALAS’s action against MEM. On this news, Tahoe’s share price fell $2.74 per share, or over 33%, from a previous closing price of $8.30 on July 5, 2017, to close at $5.56 per share on July 6, 2017, on highly elevated trading volume.


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II. TRANSACTIONS IN TAHOE SECURITIES

Number of Tahoe shares held immediately before the start of the Class Period on April 3, 2013:

From April 3, 2013 through July 5, 2017, inclusive, I made the following transactions in Tahoe securities:

PURCHASES

Date
No. of Shares
Price

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SALES

Date
No. of Shares
Price

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During the 90 days after July 5, 2017, I made the following transactions in Tahoe securities:

SALES

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No. of Shares
Price

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Comments & questions:

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About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Seattle, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.

The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for fourteen years. In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.” Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In late 2016, Benchmark Litigation named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America.”

CenturyLink, Inc. Securities Class Litigation

Securities and Financial Fraud

Introduction

Securities fraud class action litigation has been filed on behalf of investors in the securities of CenturyLink (“CenturyLink” or the “Company”) (NYSE: CTL). If you purchased or otherwise acquired the securities of CenturyLink between March 1, 2013 and June 19, 2017, inclusive (the “Relevant Period”), you may move the court for appointment as lead plaintiff by no later than August 21, 2017.

You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the actions. Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.

CenturyLink investors may choose to have Lieff Cabraser review their claim by completing the contact form below. You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.

Background on the CenturyLink Securities Class Litigation

CenturyLink is a Monroe, Louisiana provider of various communications services. The actions allege that CenturyLink misrepresented and failed to disclose its business practice of allowing and incentivizing CenturyLink employees to add services or lines to accounts without customer permission, resulting in millions of dollars in unauthorized charges, and, as a result, CenturyLink’s business was not sustainable and its public statements about its financial performance and prospects were false and misleading during the Relevant Period.

On June 16, 2017, Bloomberg reported that a former CenturyLink customer service and sales agent filed an action against CenturyLink for wrongful termination after she was fired for blowing the whistle on CenturyLink’s high-pressure sales culture that cost customers hundreds of millions of dollars in unauthorized charges for services or lines they did not request. The former employee’s complaint reportedly likened the misconduct of CenturyLink sales agents “to the Wells Fargo scandal and estimated the alleged unauthorized fees amounted to ‘many millions’ of dollars” and that “her concerns were bolstered by posts she had read on review websites.” Following this news, the price of CenturyLink common stock fell $1.23 per share, or approximately 4.56%, from its closing price on June 15, 2017 to close at $25.72 on June 16, 2017.

On the next trading day, June 19, 2017, Bloomberg reported that a consumer class action lawsuit had been filed against CenturyLink, alleging that the sales practices described in the whistleblower lawsuit against the Company defrauded hundreds of thousands and potentially millions of consumers who suffered damages of between $600 million and $12 billion. Following this news, the price of CenturyLink stock fell $0.36 per share, or approximately 1.4%, from its closing price on June 16, 2017 to close at $25.36.

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II. TRANSACTIONS IN CENTURY LINK SECURITIES

Number of shares of CenturyLink securities held immediately before the start of the Class Period on March 1, 2013:

From March 1, 2013 through June 19, 2017, inclusive, I made the following transactions in CenturyLink securities:

PURCHASES

Date
No. of Shares
Price

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SALES

Date
No. of Shares
Price

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During the 90 days after June 19, 2017, I made the following transactions in CenturyLink securities:

SALES

Date
No. of Shares
Price

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Comments & questions:

Please sign me up for your Consumer Law newsletter. Yes
Please leave this field empty.


About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Seattle, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.

The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for fourteen years. In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.” Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In late 2016, Benchmark Litigation named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America.”

Booz Allen Hamilton Corporation Securities Class Litigation

Securities and Financial Fraud

Introduction

Securities fraud class action litigation has been filed on behalf of investors in the Securities of Booz Allen Hamilton Corporation (“Booz Allen” or the “Company”) (NYSE: BAH). If you purchased or otherwise acquired the securities of Booz Allen between May 19, 2016 and June 15, 2017, inclusive (the “Class Period”), you may move the court for appointment as lead plaintiff by no later than August 18, 2017.

You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the actions. Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.

Booz Allen investors may choose to have Lieff Cabraser review their claim by completing the contact form below. You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.

Background on the Booz Allen Securities Class Litigation

Booz Allen is a Virginia-based American management consulting firm.

The action alleges that, throughout the Class Period, Booz Allen and certain of its senior executives made false and/or misleading statements and/or failed to disclose that: (i) the company engaged in improper accounting practices in its contracts with the U.S. government; (ii) consequently, Booz Allen’s revenues, which were in large part derived from services provided to the U.S. government, were inflated and unsustainable; and (iii) discovery of such conduct would subject the Company to increased regulatory scrutiny, potential criminal sanctions, and jeopardize its business relationship with its primary source of revenue, the U.S. government.

On June 15, 2017, after the stock market closed, Booz Allen revealed that the Company’s subsidiary Booz Allen Hamilton Inc. learned on June 7, 2017 that the U.S. Department of Justice is conducting “a civil and criminal investigation relating to certain elements of [the subsidiary’s] cost accounting and indirect cost charging practices with the U.S. government”. On this news, Booz Allen’s share price dropped $7.43 per share, or 18.89% from a closing price of $39.33 per share on June 15, 2017, to close at $31.90 per share on June 16, 2017, on extremely elevated trading volume.

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II. TRANSACTIONS IN BOOZ ALLEN SECURITIES

Number of shares of Booz Allen securities held immediately before the start of the Class Period on May 19, 2016:

From May 19, 2016 through June 15, 2017, inclusive, I made the following transactions in Booz Allen securities:

PURCHASES

Date
No. of Shares
Price

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SALES

Date
No. of Shares
Price

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During the 90 days after June 15, 2017, I made the following transactions in Booz Allen securities:

SALES

Date
No. of Shares
Price

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Comments & questions:

Please sign me up for your Consumer Law newsletter. Yes
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About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Seattle, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.

The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for fourteen years. In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.” Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In late 2016, Benchmark Litigation named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America.”

Aaron’s, Inc. Securities Class Litigation

Securities and Financial Fraud

Introduction

Securities fraud class action litigation has been filed on behalf of investors in the common stock of Aaron’s, Inc. (“Aaron’s” or the “Company”) (NYSE: AAN). If you purchased or otherwise acquired the securities of Aaron’s between February 6, 2015 and October 29, 2015, inclusive (the “Class Period”), you may move the court for appointment as lead plaintiff by no later than August 18, 2017.

You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the actions. Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.

Aaron’s investors may choose to have Lieff Cabraser review their claim by completing the contact form below. You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.

Background on the Aaron’s Securities Class Litigation

Aaron’s, headquartered in Atlanta, Georgia, engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories. The complaint filed in the action alleges that throughout the Class Period, defendants made material misrepresentations about the strong revenue and sales growth generated by Progressive Finance Holdings, LLC (“Progressive”), Aaron’s most profitable subsidiary, and Progressive’s proprietary algorithm, which it used to determine which customers meet leasing qualifications. Unbeknownst to investors, Aaron’s experienced software issues related to the Progressive algorithm, including the loss of critical data, which undermined Progressive’s ability to determine which customers met leasing qualifications.

On October 30, 2015, Aaron’s admitted that Progressive had lost two critical data feeds in February. The Company acknowledged that the loss of data caused it to experience “higher bad debt expense and merchandise write offs” and delayed the Company’s “ability to identify and begin collections on certain delinquent accounts.” Aaron’s senior executives admitted that the Company had discovered the data loss in February, nearly nine months earlier. Following this news, the price of Aaron’s stock plummeted $8.88 per share, or 26.47%, from a close of $33.55 per share on October 29, 2015, to close at $24.67 per share on October 30, 2015, on highly elevated trading volume.

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II. TRANSACTIONS IN AARON'S COMMON STOCK

Number of shares of Aaron's common stock held immediately before the start of the Class Period on February 6, 2015:

From February 6, 2015 through October 29, 2015, inclusive, I made the following transactions in Aaron's common stock:

PURCHASES

Date
No. of Shares
Price

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SALES

Date
No. of Shares
Price

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During the 90 days after October 29, 2015, I made the following transactions in Aaron's common stock:

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Price

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Comments & questions:

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About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Seattle, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.

The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for fourteen years. In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.” Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In late 2016, Benchmark Litigation named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America.”

Wells Fargo & Company Shareholder Derivative Litigation

Securities and Financial Fraud

Lieff Cabraser serves as Co-Lead Counsel for Co-Lead Plaintiffs Fire and Police Pension Association of Colorado and The City of Birmingham Retirement and Relief System in this consolidated shareholder derivative action alleging that, since at least 2011, the Board and executive management of Wells Fargo & Company (“Wells Fargo”) knew or consciously disregarded that Wells Fargo employees were illicitly creating millions of deposit and credit card accounts for their customers, without those customers’ consent, in an attempt to drive up “cross-selling,” i.e., selling complementary Wells Fargo banking products to prospective or existing customers.

Revelations regarding the scheme, and the defendants’ knowledge or blatant disregard of it, have deeply damaged Wells Fargo’s reputation and cost it millions of dollars in regulatory fines and lost business. In May 2017, the court largely denied defendants’ motion to dismiss plaintiff’s amended complaint.

The case is In re Wells Fargo & Company Shareholder Derivative Litigation, No. 3:16-cv-05541 (N.D. Cal.).

Navient Corporation Securities Class Litigation

Securities and Financial Fraud

Lieff Cabraser serves as lead counsel for the court-appointed lead plaintiff, a group of Lord Abbett funds, in Lord Abbett Affiliated Fund, Inc., et al. v. Navient Corporation, et al., No. 1:16-cv-112-GMS (D. Del.), a securities fraud class action arising under the PSLRA against Navient, certain of Navient’s senior officers and directors, and the underwriters of certain of Navient’s public debt offerings.

The consolidated actions allege that defendants misrepresented or failed to disclose that (i) Navient’s loan-servicing practices violated applicable federal regulations and jeopardized a contingency collection contract with the U.S. Department of Education (“DOE”); (ii) the Company had an increased number of higher-risk borrowers who were not repaying their loans and Navient failed to properly account for this increased risk of loss in its reported financial results; (iii) Navient’s operating structure was inefficient as a result of its spin-off from Sallie Mae; and (iv) a significant portion of the Company’s low-rate credit facilities were at risk of being reduced or eliminated.

A consolidated amended class action complaint was filed in September 2016 and the parties have since fully briefed defendants’ motion to dismiss.

BofI Holding, Inc. Securities Class Litigation

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Lieff Cabraser serves as lead counsel for court-appointed lead plaintiff, Houston Municipal Employees Pension System (“HMEPS”), in this securities fraud class action against BofI Holding, Inc. and certain of its senior officers. The action charges defendants with issuing materially false and misleading statements and failing to disclose material adverse facts about BofI’s business, operations, and performance.

In September 2016, the court largely denied defendants’ motion to dismiss the consolidated amended complaint. Plaintiff filed a second amended complaint in November 2016 in order to remedy the few claims that had been dismissed. In May 2017, the court denied in significant part defendants’ motion to dismiss that complaint.

The case is Houston Municipal Employees Pension System v. BofI Holding, Inc., et al., No. 3:15-cv-02324 (S.D. Cal.). A copy of the consolidated amended complaint is available here.

If you would like more information about the litigation, or have information relevant to the lawsuit, please use the form below or contact Richard Texier of Lieff Cabraser toll-free at 1-800-541-7358 or at rtexier@lchb.com.

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We produce a free e-mail Civil Justice Newsletter three to four times a year, and distribute it to persons who have contacted us and wish to receive the newsletter.

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About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Seattle, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.

The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for fourteen years. In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.” Best Lawyers and U.S. News named Lieff Cabraser as a “Law Firm of the Year” for 2016, and Benchmark Litigation included our firm in its 2016 “Top 10 Plaintiffs Firms” listing.

Petrobras Securities Litigation

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Janus Overseas Fund, et al. v. Petróleo Brasileiro S.A. – Petrobras, et al., No. 1:15-cv-10086-JSR (S.D.N.Y.); Dodge & Cox Global Stock Fund, et al. v. Petróleo Brasileiro S.A. – Petrobras, et al., No. 1:15-cv-10111-JSR (S.D.N.Y.).

Lieff Cabraser represented several funds managed by Janus and several funds managed by Dodge & Cox in individual securities cases arising from the massive fraud at Petrobras, a state-run semi-public energy and oil-production company headquartered in Rio de Janeiro, Brazil. Plaintiffs sought recovery under the federal securities laws for damages they suffered on transactions in Petrobras securities during the period December 29, 2010 through July 28, 2015 (the “Relevant Period”), due to a pervasive and long-running scheme of bribery and corruption at Petrobras.

Plaintiffs alleged that beginning around 2005 and continuing through the Relevant Period, the Company engaged in a scheme whereby contractors paid bribes to Petrobras executives and others in exchange for the award of lucrative oil and gas construction contracts. Some of the bribes were passed on to Brazilian politicians and political parties. The Company then paid the contractors inflated amounts under the contracts in order to repay them for the bribes. When the fraud was finally revealed beginning in May 2014, it sent shockwaves through the Brazilian government and economy, and caused Petrobras’s market capitalization to plummet. Authorities estimate the scheme has diverted up to, or more than, $28 billion from the Company’s coffers.

Lieff Cabraser’s cases were part of consolidated proceedings before Judge Jed S. Rakoff in the Southern District of New York. The parties reached settlements in the cases in October of 2016.

Flotek Industries, Inc. Securities Class Litigation

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Introduction

Securities fraud class action litigation has been filed on behalf of investors in Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK). If you purchased or otherwise acquired the securities of Flotek between October 23, 2014 and November 19, 2015, inclusive (the “Class Period”), you may move the court for appointment as lead plaintiff by no later than January 11, 2016.

You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the actions. Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.

Flotek investors may choose to have Lieff Cabraser review their claim by completing the contact form below. You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.

Background on the Flotek Class Litigation

Flotek is a global diversified, technology-driven company that develops and supplies oilfield products, services and equipment to the oil, gas and mining industries, and other products that are sold in consumer and industrial markets.

The actions allege that, throughout the Class Period, defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) Flotek’s proprietary software application FracMax had data and process errors; (2) the reported production data from FracMax for three of the wells in the Company’s New York City Investor Presentation on September 11, 2015 were inaccurate; and (3) an application from the Company claiming to be FracMax available in the Apple iTunes Store does not work.

On November 9, 2015, the firm Bronte Capital published a report on Flotek asserting, among other things, that: (1) the production data of four proximate wells in Texas set forth in Flotek’s September 11, 2015 presentation to investors did not match the data of the Texas Railroad Commission; and (2) a version of FracMax available in the Apple iTunes Store does not work. On this news, the price of Flotek shares fell $3.50 per share, or 19.34%, from its closing price on November 6, 2015 to close at $14.60 per share on the next trading day, November 9, 2015, on extremely heavy trading volume.

On November 10, 2015, the Company issued a press release acknowledging data and process errors in its FracMax database and the understatement of production data in Company’s presentation on September 11, 2015. On this news, the price of Flotek shares fell $5.56 per share, or 38.1%, from its closing price on November 9, 2015, to close at $9.04 per share on November 10, 2015, on extremely heavy trading volume.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, and Nashville, and Seattle, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.

The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for thirteen years. In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.” Best Lawyers and U.S. News have named Lieff Cabraser as a “Law Firm of the Year” for each year the publications have given this award to law firms.