NEW YORK--(BUSINESS WIRE)--Scott+Scott, Attorneys at Law, LLP, a global investor rights law firm, reminds Cnova N.V. (CNV) investors that there is an important deadline coming up in the securities class action lawsuit filed against Cnova and certain executives under the federal securities laws. If you wish to serve as lead plaintiff, you must move the Court no later than March 21, 2016.
What You Can Do
THE FIRM ALSO RECOMMENDS THAT YOU READ ITS “INVESTOR GUIDE TO SECURITIES LITIGATION,” WHICH YOU CAN OBTAIN FREE OF CHARGE BY FILLING OUT THE INFORMATION AT INVESTOR GUIDE.
What the Lawsuit is About
In the lawsuit, investors claim that Cnova and certain other defendants made false statements and/or failed to disclose that: (1) Cnova overstated net sales; (2) Cnova failed to properly write-off the value of certain returned items; (3) there was a material discrepancy in accounts receivable related to the damaged/returned items; (4) Cnova’s EBIT was overstated; (5) Cnova lacked adequate internal controls; and (6) as a result, defendants’ statements about Cnova’ business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times. The lawsuit claims that investors suffered damages when the true details were disclosed to the market.
Scott+Scott, LLP has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States.