NEW YORK, NY / ACCESSWIRE / August 24, 2020 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you.
Velocity Financial, Inc. (NYSE:VEL)
If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/velocity-financial-inc-loss-submission-form?prid=8763&wire=1
Lead Plaintiff Deadline: September 28, 2020
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.
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.
Alteryx, Inc. (NYSE:AYX)
If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/alteryx-inc-loss-submission-form?prid=8763&wire=1
Lead Plaintiff Deadline: October 19, 2020
Class Period: May 6, 2020 - August 6, 2020
Allegations against AYX include that: (1) the Company was unable to close large deals within the quarter, and deals were pushed out to subsequent quarters or downsized; (2) as a result, Alteryx increasingly relied on adoption licenses to attract new customers; (3) as a result and due to the nature of adoption licenses, the Company's revenue was reasonably likely to decline; 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.
American Electric Power Company, Inc. (NYSE:AEP)
If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/american-electric-power-company-inc-loss-submission-form?prid=8763&wire=1
Lead Plaintiff Deadline: October 19, 2020
Class Period: November 2, 2016 - July 24, 2020
Allegations against AEP include that: (1) the Company covertly participated in the "the largest public corruption case in Ohio history"; (2) the Company secretly funneled substantial funds to Ohio political organizations and politicians to bribe politicians to pass Ohio House Bill 6 ("HB6"), which benefited the Company and its coal-fired generation assets; (3) the Company partially funded a massive, misleading advertising campaign in support of HB6 and in opposition to a ballot initiative to repeal HB6 by passing substantial sums through a web of dark money entities and front companies in order to conceal the Company's involvement; (4) the Company aided in subverting a citizens' ballot initiative to repeal HB6; (5) as a result of the foregoing, defendants' statements regarding the Company's regulatory and legislative efforts were materially false and misleading; 6) as a result of the foregoing, the Company would face increased scrutiny; (7) the Company was subject to undisclosed risk of reputational, legal, and financial harm; (8) the bribery scheme would jeopardize the benefits the Company sought brought by HB6; (9) as opposed to the its repeated public statements regarding a move to clean energy, the Company sought a dirty energy bailout; (10) as opposed to the Company's repeated public statements regarding protection of its customers' interests, the Company sought an extra and state-mandated surcharge on its customers' bills; and (11) as a result of the foregoing, 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 contact Vincent Wong, Esq. either via email vw@wongesq.com or by telephone at 212.425.1140.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com
SOURCE: The Law Offices of Vincent Wong
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