CLASS ACTION UPDATE for SOGO, ALKS, W and MKL: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

Feb 15, 2019

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NEW YORK,  -- 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 and further details about the cases can be found at the links provided. There is no cost or obligation to you.


Sogou Inc. (NYSE: SOGO)
Class Period: 
Purchasers of American Depositary Shares pursuant and/or traceable to Sogou's false and misleading Registration Statement and Prospectus issued in connection with the Company's initial public offering on November 9, 2017
Lead Plaintiff Deadline: March 11, 2019
Join the action: https://www.zlk.com/pslra-1/sogou-inc-loss-form?wire=3


The lawsuit alleges: Sogou Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Chinese regulators were analyzing Sogou for regulatory action because of an increase in Sogou merchants’ sales of counterfeit goods; (ii) Chinese regulators were analyzing Sogou for regulatory action because Sogou’s existing software, advertising procedures, personnel, and audit procedures were insufficient to safeguard against compliance violations with governing Chinese regulations, and would need to be updated, enhanced, and strengthened, thus resulting in increased expenses; (iii) Sogou’s cost of revenues were skyrocketing primarily because of significant increases in Traffic Acquisition Cost, which is a primary driver of Sogou’s cost of revenues, as Sogou was dealing with significant price inflation from increased competition; (iv) Sogou was going to alter its strategy concerning smart hardware and push the Company’s AI capabilities to increase product competitiveness; (v) as a result of altering its smart hardware strategy, Sogou had already decided to phase out non-AI-enabled hardware products, such as legacy models of Teemo Smart Watch, and transition to use products integrating AI technologies, which Sogou hoped would reduce its hardware revenue in the second half of 2018; and (vi) as a result of the foregoing, Sogou’s public statements were materially false and misleading at all relevant times.


To learn more about the Sogou Inc. class action contact jlevi@levikorsinsky.com.


Alkermes plc (NASDAQGS: ALKS)
Class Period: 
February 17, 2017 - November 1, 2018
Lead Plaintiff Deadline: February 25, 2019
Join the action: https://www.zlk.com/pslra-1/alkermes-plc-loss-form?wire=3


The lawsuit alleges that, during the class period, Alkermes plc made materially false and/or misleading statements and/or failed to disclose that: (1) the FDA had advised Alkermes to follow a certain protocol in connection with its New Drug Application submission for its drug ALKS 5461; (2) Alkermes had failed to follow that protocol; (3) consequently, an FDA advisory committee voted 21 to 2 against the approval of ALKS 5461; and (4) as a result, Alkermes’ public statements were materially false and/or misleading at all relevant times.


To learn more about the Alkermes plc class action contact jlevi@levikorsinsky.com.


Wayfair Inc. (NYSE: W)
Class Period: 
Class A shares between August 2, 2018 and October 31, 2018
Lead Plaintiff Deadline: March 11, 2019
Join the action: https://www.zlk.com/pslra-1/wayfair-inc-loss-form?wire=3


The lawsuit alleges: Wayfair Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) Wayfair had been experiencing significantly diminished demand for its online product offerings and had significantly increased advertising spending to grow sales; (2) Wayfair, which was already more than one-third of the way into 3Q18 when it announced its 2Q18 results on August 2, 2018, had already dramatically increased advertising spending for 3Q18; and (3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.


To learn more about the Wayfair Inc. class action contact jlevi@levikorsinsky.com.


Markel Corporation (NYSE: MKL)
Class Period: 
July 26, 2017 - December 6, 2018
Lead Plaintiff Deadline: March 12, 2019
Join the action: https://www.zlk.com/pslra-1/markel-corporation-loss-form?wire=3


The lawsuit alleges: Markel Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s subsidiaries did not appropriately record loss reserves; (2) as a result, the loss reserves would need to be adjusted and/or restated; (3) these misleading accounting practices would lead to regulatory scrutiny and financial loss to investors; 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.


To learn more about the Markel Corporation class action contact jlevi@levikorsinsky.com.


You have until the lead plaintiff deadlines to request 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 national 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.

URL : http://www.zlk.com

Contact Information:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


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