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Jan. 21, 2020, 11:00 a.m. EST

DEADLINE ALERT for HEXO, XYF, BZUN, ADMS: Law Offices of Howard G. Smith Reminds Investors of Class Actions on Behalf of Shareholders

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    HEXO Corp. (HEXO)
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    Baozun Inc. ADR (BZUN)

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BENSALEM, Pa., Jan 21, 2020 (GLOBE NEWSWIRE via COMTEX) -- Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.

Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

HEXO Corp. /zigman2/quotes/206508254/composite HEXO -2.08%

Class Period: January 25, 2019 - November 15, 2019

Lead Plaintiff Deadline: January 27, 2020

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that HEXO's reported inventory was misstated as the Company was failing to write down or write off obsolete product that no longer had value; (2) that HEXO was engaging in channel-stuffing in order to inflate its revenue figures and meet or exceed revenue guidance provided to investors; (3) that HEXO was cultivating cannabis at its facility in Niagara, Ontario that was not appropriately licensed by Health Canada; and (4) that as a result, HEXO's public statements were materially false and misleading at all relevant times.

X Financial /zigman2/quotes/209424360/composite XYF -4.70%

Class Period: ADSs pursuant and/or traceable to the September 19, 2018 IPO

Lead Plaintiff Deadline: February 7, 2020

The complaint filed in this class action alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company's total loan facilitation amount was not growing, but rather was contracting; (2) that the number of investors actively using X Financial's platform was shrinking; (3) that demand from small- and medium-sized enterprises for the Company's preferred loans was plummeting; (4) that the Company's preferred loans had performed so poorly that it had begun drastically scaling back its preferred loans in the first quarter of 2018, several months before the IPO, and was in the process of phasing out such loans completely; (5) that demand for the Company's card loans was also plummeting; (6) that the revenue and loan facilitation growth provided in the registration statement leading up to the IPO was achieved by relaxed credit and due diligence standards, under which the Company had underwritten tens of millions of dollars' worth of poor quality loans that suffered from a disproportionately high risk of default as compared to the Company's earlier loan vintages; (7) that the Company was suffering from accelerated delinquency rates from poor quality loans that it had underwritten in the first, second, and third quarters of 2018, which had caused the Company's delinquency rate to sharply rise; (8) that the Company's product mix had significantly deteriorated; (9) that the Company's net revenue was on track to decline by 22% during the third quarter of 2018; and (10) that as a result, the IPO Registration Statement was materially false and/or misleading and failed to state information required to be stated therein.

Baozun Inc. /zigman2/quotes/200727380/composite BZUN +1.84%

Class Period: March 6, 2019 - November 20, 2019

Lead Plaintiff Deadline: February 10, 2020

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Baozun was heavily reliant upon a single brand partner, Huawei, for the exponential service fee growth it had been reporting historically, which was in turn fueling its historical revenue growth; (2) that, compared to other brands Baozun had as brand partners, the Huawei work had historically included a lot of additional add-on service fees, increasing the revenue reported from Huawei vis-a-vis its other brand partners; (3) that Huawei, like other large brands, was actively preparing to bring its online merchandising in-house, meaning Baozun knew that it was losing a significant brand partner; and (4) that, as a result of the foregoing, the Company was not on track to achieve the financial results and performance Defendants claimed the Company was on track to achieve during the class period.

Adamas Pharmaceuticals, Inc. /zigman2/quotes/206402237/composite ADMS +1.85%

Class Period: August 8, 2017 - September 30, 2019

Lead Plaintiff Deadline: February 10, 2020

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that health insurers were excluding Adamas's primary product, GOCOVRI, from their prescription formularies or requiring patients to use "step therapy" - i.e., making patients try immediate-release amantadine prior to covering GOCOVRI; (2) that the rapid increase in physicians prescribing GOCOVRI during the Class Period was not due to its efficacy; and (3) that as a result of the foregoing, the Company's financial statements about Adamas's business, operations, and prospects were materially false and misleading at all relevant times.

/zigman2/quotes/206508254/composite
US : U.S.: NYSE
$ 1.41
-0.03 -2.08%
Volume: 2.01M
Feb. 21, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$391.88 million
Rev. per Employee
N/A
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/zigman2/quotes/209424360/composite
US : U.S.: NYSE
$ 1.42
-0.07 -4.70%
Volume: 14,457
Feb. 21, 2020 6:30p
P/E Ratio
1.61
Dividend Yield
N/A
Market Cap
$158.70 million
Rev. per Employee
N/A
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/zigman2/quotes/200727380/composite
US : U.S.: Nasdaq
$ 33.18
+0.60 +1.84%
Volume: 709,018
Feb. 21, 2020 4:00p
P/E Ratio
42.45
Dividend Yield
N/A
Market Cap
$1.89 billion
Rev. per Employee
$204,063
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/zigman2/quotes/206402237/composite
US : U.S.: Nasdaq
$ 5.79
+0.11 +1.85%
Volume: 295,112
Feb. 21, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$158.37 million
Rev. per Employee
$214,126
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