Class Action - MacroGenics, Inc. (MGNX), ViewRay, Inc. (VRAY) & Cadence Bancorporation (CADE) - Bronstein, Gewirtz & Grossman, LLC
NEW YORK, Oct. 11, 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. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
MacroGenics, Inc. (NASDAQ: MGNX)
Class Period: February 6, 2019 - June 3, 2019
Deadline: November 12, 2019
For more info: www.bgandg.com/mgnx
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company had conducted the progression-free survival ("PFS") and first interim overall survival ("OS") analyses for the SOPHIA trial by no later than October 10, 2018; (2) the October 2018 PFS analysis showed a 0.9 month improvement in PFS; and (3) the October 2018 OS interim analysis did not produce a statistically significant result and the interim OS Kaplan-Meier curves (a non-parametric statistic used to estimate the survival function from lifetime data) crossed in several spots (thereby violating the constant hazard assumption) and separated late; and (4) as a result, MacroGenic's public statements were materially false and misleading at all relevant times.
ViewRay, Inc. (NASDAQ: VRAY)
Class Period: March 15, 2019 - August 8, 2019
Deadline: November 12, 2019
For more info: www.bgandg.com/vray
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) demand for ViewRay systems had declined due in part to changes being made to Medicare reimbursement approaches first announced in November 2018 that could make purchases of new ViewRay systems less profitable for customers; (2) the Company's reported backlog was overstated due to the inclusion of orders with insufficient surety as to permit for their inclusion in reported backlog; and (3) as a result, ViewRay's public statements were materially false and misleading at all relevant times.
Cadence Bancorporation (NYSE: CADE)
Class Period: July 23, 2018 - July 22, 2019
Deadline: November 15, 2019
For more info: www.bgandg.com/cade
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) that the company lacked adequate internal controls to assess credit risk; (2) that, as a result, certain of the company’s loans posed an increased risk of loss; (3) that, as a result, the company was reasonably likely to incur significant losses for certain loans; (4) that the company’s financial results would suffer a material adverse impact; and (5) that, 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.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]