CLASS ACTION UPDATE for VEL, COG and UPLCQ: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, NY / ACCESSWIRE / September 23, 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.
VEL Shareholders Click Here:https://www.zlk.com/pslra-1/velocity-financial-inc-loss-submission-form?prid=9538&wire=1
COG Shareholders Click Here:https://www.zlk.com/pslra-1/cabot-oil-gas-corporation-information-request-form?prid=9538&wire=1
UPLCQ Shareholders Click Here:https://www.zlk.com/pslra-1/ultra-petroleum-corp-information-request-form?prid=9538&wire=1
* ADDITIONAL INFORMATION BELOW *
Velocity Financial, Inc. (NYSE:VEL)
This lawsuit is on behalf of investors who purchased VEL stocks pursuant and/or traceable to the Registration Statement and Prospectus, as amended, issued in connection with Velocity's January 2020 initial public offering.
Lead Plaintiff Deadline: September 28, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/velocity-financial-inc-loss-submission-form?prid=9538&wire=1
According to the filed complaint, defendants failed to disclose that, at the time of Velocity's initial public offering (the "IPO"), the Company's non-performing loans had dramatically increased in size from the figures provided in the Registration Statement and Prospectus that Velocity had issued in connection with the IPO. Further, defendants failed to provide any information to investors regarding the potential impact of the novel coronavirus on Velocity's business and operations, despite the fact that the international spread of the virus had already been confirmed at the time of the IPO. The failure to disclose the substantial and growing proportion of the Company's loans that were non-performing and/or on non-accrual status as of the IPO rendered the statements contained in the Registration Statement and Prospectus regarding the quality of the Company's loan portfolio and underwriting practices materially misleading.
Cabot Oil & Gas Corporation (NYSE:COG)
COG Lawsuit on behalf of: investors who purchased October 23, 2015 - June 12, 2020
Lead Plaintiff Deadline: October 13, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/cabot-oil-gas-corporation-information-request-form?prid=9538&wire=1
According to the filed complaint, during the class period, Cabot Oil & Gas Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) Cabot had inadequate environmental controls and procedures and/or failed to properly mitigate known issues related to those controls and procedures; (ii) as a result, Cabot, among other issues, failed to fix faulty gas wells, thereby polluting Pennsylvania's water supplies through stray gas migration; (iii) the foregoing was foreseeably likely to subject Cabot to increased governmental scrutiny, and enforcement, as well as increased reputational and financial harm; (iv) Cabot continually downplayed its potential civil and/or criminal liabilities with respect to such environmental matters; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Ultra Petroleum Corp. (OTC PINK:UPLCQ)
UPLCQ Lawsuit on behalf of: investors who purchased April 3, 2017 - August 8, 2019
Lead Plaintiff Deadline: November 2, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/ultra-petroleum-corp-information-request-form?prid=9538&wire=1
According to the filed complaint, during the class period, Ultra Petroleum Corp. made materially false and/or misleading statements and/or failed to disclose that: (a) Ultra's proved reserves were materially overstated and, therefore, worth hundreds of millions of dollars less than represented; (b) Ultra's proved undeveloped reserves were of de minimis value because they contained low-quality deposits that lacked a commercially viable path to development; (c) Ultra was unable to meet the production and development estimates provided to investors, and such estimates lacked a reasonable basis; (d) Ultra was unable to withstand even a modest downturn in the price of natural gas because, inter alia, Ultra's business had less financial and production flexibility than claimed; and (e) Ultra did not have the technical or financial capabilities or available asset base to sustainably grow its oil and natural gas production by any meaningful amount.
You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington, D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE:Levi & Korsinsky, LLP
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