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NEW YORK, NY / ACCESSWIRE / October 5, 2020 / 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. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
PT Shareholders Click Here: https://www.zlk.com/pslra-1/pintec-technology-holdings-limited-loss-form?prid=9790&wire=1
TCMD Shareholders Click Here: https://www.zlk.com/pslra-1/tactile-systems-technology-inc-loss-submission-form?prid=9790&wire=1
GTX Shareholders Click Here: https://www.zlk.com/pslra-1/garrett-motion-inc-loss-submission-form?prid=9790&wire=1
* ADDITIONAL INFORMATION BELOW *
Pintec Technology Holdings Limited (NASDAQ:PT)
This lawsuit is on behalf of shareholders who purchased PT securities pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's October 2018 initial public offering.
Lead Plaintiff Deadline : November 30, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/pintec-technology-holdings-limited-loss-form?prid=9790&wire=1
According to the filed complaint, (1) the Company erroneously recorded revenue earned from certain technical service fee on a net basis, rather than a gross basis; (2) there were material weaknesses in Pintec's internal control over financial reporting related to cash advances outside the normal course of business to Jimu Group, a related party, and to a non-routine loan financing transaction with a third-party entity, Plutux Labs; (3) as a result of the foregoing, the Company's financial results for fiscal 2017 and 2018 had been misstated; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Tactile Systems Technology, Inc. (NASDAQ:TCMD)
TCMD Lawsuit on behalf of: investors who purchased May 7, 2018 - June 8, 2020
Lead Plaintiff Deadline : November 30, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/tactile-systems-technology-inc-loss-submission-form?prid=9790&wire=1
According to the filed complaint, during the class period, Tactile Systems Technology, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) while Tactile publicly touted a $4 plus billion or $5 plus billion market opportunity, in truth, the total addressable market for Tactile's pneumatic compression devices was materially smaller; (2) to induce sales growth and share gains, Tactile and/or its employees were engaged in illicit and illegal sales and marketing activities in violation of applicable federal and state rules and public payer regulations; (3) the foregoing illicit and illegal sales and marketing activities increased the risk of a Medicare audit of Tactile's claims and criminal and civil liability; (4) Tactile's revenues were in part the product of unlawful conduct and thus unsustainable; and that as a result of the foregoing, (5) Defendants' public statements, including Tactile's year-over-year revenue growth, the purported growth drivers, and the effectiveness of Tactile's internal controls over financial reporting were materially false and misleading at all relevant times.