The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of CHGG, ACHC, COST and RYAAY

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NEW YORK, Nov. 08, 2018 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of 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.      

According to the complaint, Chegg, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) the Company lacked adequate security measures to protect users’ data; (2)  the Company lacked the internal controls and procedures to detect unauthorized access to its systems and to its data; (3)  as a result, the Company would incur additional expenses and litigation risks; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

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Acadia Healthcare Company, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) the quality of Acadia’s U.K. operations did not give the Company a “competitive strength” that would drive future growth and profitability; and (2) defendants had no reasonable basis to believe--and did not in fact believe--their positive statements about the Company’s business and financial prospects during the Class Period, including their guidance issued and reaffirmed throughout the Class Period.

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The complaint alleges that throughout the class period Costco Wholesale Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) Costco lacked effective internal control over financial reporting; (ii) as a result of the foregoing, Defendants’ statements about Costco’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. 

On October 4, 2018, Costco announces that “in its upcoming fiscal 2018 Annual Report on Form 10-K, it expects to report a material weakness in internal control. The weakness relates to general information technology controls in the areas of user access and program change-management over certain information technology systems that support the Company’s financial reporting processes. The access issues relate to the extent of privileges afforded users authorized to access company systems.” Following this news, shares of Costco fell from a close of $231.68 on October 4, 2018, to a close of $218.82 the following day.

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According to the complaint, Ryanair Holdings plc allegedly made materially false and/or misleading statements and/or failed to disclose that: (a) the Company had experienced a breakdown in relations with its employees amidst their growing dissatisfaction with working conditions, lack of benefits, exploitative contracts and management hostility; (b) the Company’s pilots and/or cabin crews had sought union recognition or collectivization in several key markets and employees had internally expressed widespread discontent with the Company’s collective bargaining units; (c) the Company was experiencing elevated and increasing employee turnover, which had resulted in the loss of hundreds of qualified and skilled employees to competitor airlines; (d) the Company’s newly negotiated contracts had not ameliorated employee discontent or “locked away” employee wage growth for three or four years, but rather, defendants were aware that pilot and cabin crew contracts had to be reformulated to significantly increase pay and benefits, comply with local labor laws and provide other worker concessions to enable Ryanair to hire and retain sufficient qualified employees to meet operational targets; (e) because of the aforementioned, the Company was unable to hire sufficient pilots to meet expected demand and was thereby exposed to increased risk of flight cancellations, loss of reputational assets and increased costs from flight disruptions; (f) because of the aforementioned, the Company’s historical operating model and profit growth were not sustainable; and (g) the Company could not meet internal earnings expectations.

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Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. There is no cost or obligation to you. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.

J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:J. Klein, Esq.Empire State Building350 Fifth Avenue59th FloorNew York, NY 10118Telephone: (212) 616-4899Fax: (347) 558-9665 

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Globe Newswire: 23:10 GMT Thursday 8th November 2018

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