Bronstein, Gewirtz & Grossman, LLC Class Action Update - ASTE, ZIV & WCAGY; WRCDF

Monday, 01. April 2019 21:00

NEW YORK, April 01, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can 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.

Astec Industries, Inc.  (NASDAQ: ASTE)
Class Period: July 26, 2016 - October 22, 2018
Lead Plaintiff Deadline: April 2, 2019
For more info: www.bgandg.com/aste

The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding Astec’s business, operations and prospects, including that its wood pellet plants suffered from significant and costly problems that prevented them from running at their promised production capacity, posing a threat to the Company’s pellet plant business, its overall financial performance, and its financial outlook.

VelocityShares Daily Inverse VIX Medium Term Exchange Traded Notes (NASDAQ: ZIV)
Class Period: June 30, 2017 - February 5, 2018
Lead Plaintiff Deadline: April 5, 2019
For more info: www.bgandg.com/ziv

The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose that: (1) the inverse ETNs was not appropriate for managing daily trading risks; (2) Credit Suisse had designed the ZIV to fail under certain market conditions; (3) Credit Suisse had offered and sold more inverse ETNs than the market could bear which would enable Credit Suisse to cause the collapse of the inverse ETNs when the opportunity presented itself; and (4) Credit Suisse could actively manipulate inverse ETNs by precipitating an acute liquidity event in volatility markets including markets for VIX futures.

Wirecard AG (OTCMKT: WCAGY; WRCDF)
Class Period: April 7, 2016 - February 1, 2019
Deadline:
April 9, 2019
For more info:
www.bgandg.com/wrcdf

The Complaint alleges that throughout the Class Period, Defendants failed to disclose that: (1) for the period spanning from 2015 to 2018, a senior Wirecard executive in Singapore had been accused of forging and backdating contracts, including falsifying accounts and money laundering; (2) an external law firm commissioned to investigate Wirecard’s Singapore office had reportedly found evidence of “serious offences of forgery and/or of falsification of accounts”; (3) Wirecard had downplayed weaknesses in its internal controls over financial reporting and failed to disclose the true extent of those weaknesses; and (4) as a result, defendants’ statements about Wirecard’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

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