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 (jimb@johnsonandweaver.com) 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 (jimb@johnsonandweaver.com) 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
(jimb@johnsonandweaver.com) 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
(jimb@johnsonandweaver.com) 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 (jimb@johnsonandweaver.com) 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
jimb@johnsonandweaver.com
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