Archive for November, 2014

MOL Global Alert: Investors encouraged to contact law firm

MOL GLOBAL ALERT: National Securities Law Firm Announces the Filing of a Lawsuit to Recover Losses for Shareholders. Encourages Investors With Losses in Excess of $100,000 to Contact Law Firm for More Information.

November 25, 2014
New York, New York

Tripp Levy PLLC, a leading national securities law firm, announces that a class action lawsuit was filed against MOL Global, Inc. (“MOL Global” or the “Company”) (Nasdaq:MOLG) and certain of its officers. The class action, filed in United States District Court, Southern District of New York, and docketed under 14-cv-09357, is on behalf of a class consisting of all persons or entities who purchased MOL Global securities between October 9, 2014 and November 20, 2014, inclusive (the “Class Period”).

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose to MOLG investors that: (1) MOLG was overstating the revenue and profit derived from MOLG’s business and operations; (2) MOLG’s actual business model could not sustain the growth trends described in the Offering Documents; (3) MOLG would not be able to report its third quarter 2014 financial results on November 21, 2014, as previously stated; and (4) as a result of the foregoing, MOLG’s financial statements were materially false and misleading at all relevant times.

Shares of MOLG declined $4.77 per share, or almost 54%, to close at $4.09 per share on November 21, 2014. This represented a 67% decline in MOLG’s ADS price from the IPO price of $12.50. NASDAQ has halted trading in the Company’s shares until the Company satisfies NASDAQ’s request for additional information.

If you purchased shares of MOL, and have suffered a loss of at least (US) $100,000 from your investment in MOL common stock and would like to learn more about this lawsuit and your ability to potentially recover your losses, please contact us toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC is a leading national securities and shareholder rights law firm representing both individual and institutional shareholders and, along with its affiliate, have recovered billions of dollars for shareholders. Tripp Levy PLLC is affiliated with Milberg LLP. The National Law Journal has named Milberg one of the “50 Elite Trial Lawyer Firms” and one of the “50 Leading Plaintiff Firms in America.”

Attorney advertising. Prior results do not indicate a similar outcome.

Rayonier Shareholder Alert: Investors encouraged to contact law firm

Rayonier Shareholder Alert: National Securities Law Firm Announces Investigation of Rayonier, Inc. for Potential Accounting Irregularities. Encourages Investors to Contact Law Firm for More Information.

November 10, 2014
New York, New York

Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating claims on behalf of investors of Rayonier, Inc. (NYSE: RYN) (“Rayonier” or the “Company”). The investigation focuses on certain statements issued by Rayonier regarding the Company’s financial results.

The Company announced that it had understated its depletion expense in cost of goods sold by approximately $2.0 million in each of the quarterly periods ended March 31, 2014 and June 30 2014, which resulted in a corresponding overstatement of income from continuing operations of $1.9 million and $2.0 million, respectively, in those periods. In addition, management determined that there was a material weakness in Rayonier’s internal controls related to merchantable timber inventory.

As a result of the foregoing, the Audit Committee of the Company concluded that Rayonier’s interim consolidated financial statements for the quarters ended March 31, 2014 and June 30, 2014, its unaudited pro forma condensed consolidated balance sheets as of March 31, 2014, its unaudited pro forma condensed consolidated statements of income from continuing operations for the three months ended March 31, 2014 and the guidance provided by Rayonier for 2014 should no longer be relied upon.

On this news, shares of Rayonier fell $4.93 per share, or more than 14.5%, to $28.97 per share in intraday trading on November 10, 2014.

If you purchased shares of Rayonier this year, and have suffered a significant loss from your investment in Rayonair common stock and would like to learn more about this investigation and your ability to potentially recover your losses, please contact us toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC is a leading national securities and shareholder rights law firm representing both individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders. Tripp Levy PLLC is affiliated with Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome

Barrett Shareholder Alert: Investors encouraged to contact law firm

Barrett Shareholder Alert: National Securities Law Firm Announces the Filing of a Class Action Lawsuit to Recover Losses for Those Shareholders Who Purchased Barrett Business Services, Inc. Securities. Encourages Shareholders With Losses in Excess of $100,000 to Contact Law Firm

November 7, 2014
New York, New York

Tripp Levy PLLC, a leading national securities law firm, announces the filing of a class action lawsuit against Barrett Business Services, Inc. (“Barrett” or the “Company”) (Nasdaq:BBSI) and certain of its officers. The class action, filed in United States District Court for the Western District of Washington, and docketed under 3:14-cv-o5884, is on behalf of a class consisting of all persons or entities who purchased Barrett securities between February 12, 2013 and October 29, 2014, inclusive (the “Class Period”). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company under accrued its self-insured workers’ compensation reserves; (2) that, as a result, the Company overstated its earnings; (3) that the Company lacked adequate internal and financial controls; and (4) that, as a result of the foregoing, Defendants’ statements were materially false and misleading at all relevant times.

On October 28, 2014, Barrett disclosed that it had a net loss of $37.8 million for its 2014 fiscal third quarter. According to the Company, this loss was driven by an $80 million pretax increase in workers’ comp reserves, which effectively wiped out the Company’s past five years of pretax earnings.

As a result of this news, the Company’s stock declined $26.18 per share, over 58%, to close on October 29, 2014 at $18.28 per share.

If you are a shareholder of Barrett and purchased your shares during the Class Period and suffered losses in excess of $100,000, and would like additional information as to how you may be eligible to recover your losses, please contact us toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliate, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the “50 Elite Trial Lawyer Firms” and one of the “50 Leading Plaintiff Firms in America.” Attorney advertising. Prior results do not indicate a similar outcome.

Covance Shareholder Alert: Investors encouraged to contact law firm

Covance Shareholder Alert – Buyout of Covance Inc. – National Securities Law Firm Seeks Higher Price for Shareholders. Encourages Shareholders to Contact Law Firm for More Information

November 3, 2014
New York, New York

Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Covance Inc. (NYSE: CVD) (“Covance” or the “Company”) on behalf of its shareholders. Laboratory Corporation of America Holdings (LabCorp) and Covance announced that they have entered into a definitive agreement under which LabCorp will acquire Covance for cash and LabCorp shares currently valued at $105.12 per Covance share. Under the terms of the agreement, Covance shareholders will receive $75.76 in cash and 0.2686 LabCorp shares for each Covance share they own. Covance shareholders will own approximately 15.5% of the combined company.

The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors and senior management of Covance for not acting in Covance shareholders’ best interests in connection with the sale process of Covance. The investigation seeks to determine if there was an adequate auction process and if LabCorp is underpaying for Covance shares. Indeed, Covance stock hit a high of $106.50 per share earlier this year. The investigation further concerns whether the senior management of Covance may have acted in their own self interests in selling the company to LabCorp.

If you are a shareholder of Covance and would like additional information as to how the acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliate, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the “50 Elite Trial Lawyer Firms” and one of the “50 Leading Plaintiff Firms in America.” Attorney advertising. Prior results do not indicate a similar outcome.

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