Energy News / Shareholders Foundation, Inc.

Deadline Upcoming in $28.5 Million Settlement in the Cnova NV (NASDAQ: CNV) Investor Lawsuit

Via: ReleaseWire

Updated 12:00 PM CST, Tue, February 27,2018

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Cnova NV (NASDAQ: CNV) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on March 12, 2018 and NASDAQ: CNV investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 02/27/2018 -- A deadline is coming up on March 12, 2018 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Cnova NV (NASDAQ: CNV) between November 19, 2014 and February 23, 2016.

Investors who purchased a significant amount of shares of Cnova NV (NASDAQ: CNV) between November 19, 2014 and February 23, 2016, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the Cnova NV (NASDAQ: CNV) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/cnova-nv-nasdaq-cnv-investor-securities-class-action-lawsuit-01202016

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is March 12, 2018. The class action administrator for this case is Garden City Group.

The lawsuit was originally filed in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Cnova NV. According to the complaint the plaintiff alleges on behalf of purchasers of Cnova NV (NASDAQ: CNV) securities issued in connection with the Company's initial public offering ("IPO") on or about November 19, 2014 (the "IPO") and/or between November 19, 2014 and December 18, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that, within Cnova NV's IPO registration statement, and/or between November 19, 2014 and December 18, 2015, defendants failed to disclose that Cnova NV overstated net sales, that Cnova NV failed to properly write-off the value of certain returned items, that there was a material discrepancy in accounts receivable related to the damaged/returned items, that, as such, the Company's EBIT was overstated, that Cnova NV lacked adequate internal controls, and that, as a result of the foregoing, Cnova NV's financial statements and Defendants' statements about Cnova NV's business, operations, and prospects, were materially false and misleading at all relevant times.

Those who purchased shares of Cnova NV (NASDAQ: CNV) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-upcoming-in-285-million-settlement-in-the-cnova-nv-nasdaq-cnv-investor-lawsuit-939738.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com