WILMINGTON, Del., Aug. 03, 2020 (GLOBE NEWSWIRE) — Rigrodsky Long, P.A. reminds investors of upcoming deadlines involving securities fraud class action lawsuits commenced against the following companies:
Insperity, Inc. (NYSE: NSP)
Class Period: February 11, 2019 – February 11, 2020
Lead Plaintiff Deadline: September 21, 2020
According to the Complaint, on February 11, 2019, the start of the Class Period, Insperity reported its fourth quarter and full-year 2018 financial results, which results were up significantly year-over-year. Additionally the Company offered bullish full-year 2019 guidance. Likewise, on April 29, 2019, Insperity reported “record” first quarter results, and raised its full-year 2019 guidance. Therefore, at least according to Defendants’ narrative, Insperity was poised to deliver a record year of growth as a result of the Company’s successful business model. As a result, Insperity’s stock price dramatically increased during the first half of 2019.
The truth about Insperity’s deceptive business practices was revealed through a series of disclosures. First, on July 29, 2019, Insperity released its second quarter 2019 financial results. Despite delivering year-over-year growth and meeting analysts’ estimates, the Company offered disappointing third quarter 2019 guidance and reduced its full-year 2019 guidance. Further, Defendants revealed that in the second quarter 2019, Insperity had experienced an increase in large medical claim costs, which Defendants described as an anomaly which would not impact projected cost benefit trends. On this news, Insperity shares fell $35.74 per share, or 25%.
Second, on November 4, 2019, Insperity released its third quarter 2019 financial results, which substantially missed analysts’ estimates and were materially down year-over-year. In addition, Insperity materially reduced its full-year 2019 guidance. Defendants attributed these results to continued large medical claim costs, which they again attempted to describe as a mere anomaly to assuage investor concern. On this news, Insperity shares fell by $36.29 per share, or 34%.
Finally, on February 11, 2020, after the close of trading, Insperity released its fourth quarter and full-year 2019 financial results. On this date, Insperity revealed that, for the third quarter in a row, large medical claims had again impacted the Company. Further, the Company stated that it had restructured its contract with UnitedHealthcare to no longer have financial responsibility for any medical claims over $1 million. Insperity also offered disappointingly bearish guidance for the first quarter and full-year 2020.
To learn more, visit: https://rl-legal.com/cases-insperity-inc
FirstEnergy Corp. (NYSE: FE)
Class Period: February 21, 2017 – July 21, 2020
Lead Plaintiff Deadline: September 28, 2020
According to the Complaint, on July 21, 2020, federal agents announced the arrest of Householder and four other persons, including a prominent FirstEnergy lobbyist, in connection with a $60 million racketeering and bribery scheme. The 82-page criminal complaint and affidavit detailed an alleged pay-to-play scheme in which FirstEnergy corrupted every facet of the legislative process in order to ensure the passage of HB6, including defending the bill against a citizens’ ballot initiative. Prosecutors described the case as involving the “largest bribery, money-laundering scheme” in Ohio history.
To learn more, visit: https://rl-legal.com/cases-firstenergy-corp.
If you would like to discuss any of these lawsuits and your rights cost and obligation free, please contact Seth D. Rigrodsky or Timothy J. MacFall toll-free at (888) 969-4242 or by e-mail at info@rl-legal.com.
A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky Long, P.A., with offices in Delaware and New York, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in securities fraud and corporate class actions nationwide.
Attorney advertising. Prior results do not guarantee a similar outcome.
Rigrodsky Long, P.A.
Seth D. Rigrodsky
Timothy J. MacFall
(888) 969-4242 (Toll Free)
(302) 295-5310
Fax: (302) 654-7530
info@rl-legal.com
https://rl-legal.com