October 22, 2020

The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of WINS, FE and QTT

The MarketWatch News Department was not involved in the creation of this content.

September 23, 2020 (ACCESSWIRE via COMTEX) —
NEW YORK, NY / ACCESSWIRE / September 23, 2020 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.

Wins Finance Holdings Inc. (NASDAQ:WINS)Class Period: October 31, 2018 – July 6, 2020Lead Plaintiff Deadline: September 23, 2020

The complaint alleges that throughout the class period Wins Finance Holdings Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the ultimate repayment of the RMB 580 million Guohong Loan was highly uncertain; (ii) nonpayment of the Guohong Loan would have a significant impact on the Company’s financial and operating condition; (iii) weaknesses in Wins’s internal control over its financial reporting persisted despite the Company’s repeated assurances to investors that it was taking steps to remediate these weaknesses; (iv) the foregoing issues, among others, made the resignation of Wins’s independent auditor foreseeably likely; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Learn about your recoverable losses in WINS: http://www.kleinstocklaw.com/pslra-1/wins-finance-holdings-inc-loss-submission-form?id=9523&from=1

FirstEnergy Corp. (NYSE:FE)Class Period: February 21, 2017 – July 21, 2020Lead Plaintiff Deadline: September 28, 2020

The FE lawsuit alleges that throughout the class period, FirstEnergy Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) the legislative “solutions” that defendants claimed would resolve problems with the Company’s nuclear facilities were centered on an illicit campaign to corrupt high-profile state legislators and thus secure legislation favoring the FirstEnergy; (2) over roughly three years, FirstEnergy and its affiliates funneled more than $60 million to prominent state politicians and lobbyists, including Ohio Speaker Larry Householder, in order to secure the passage of Ohio House Bill 6, which provided a $1.3 billion ratepayer-funded bailout to keep the Company’s failing nuclear facilities in operation; (3) defendants falsely represented that they were complying with state and federal laws and regulations regarding regulatory matters throughout the Class Period, exposing the Company and its investors to the extreme risks of reputational, legal, and financial harm; (4) as a result of defendants’ false statements and omissions, FirstEnergy insiders were able to sell more than $17 million worth of their FirstEnergy shares at artificially inflated prices.

Learn about your recoverable losses in FE: http://www.kleinstocklaw.com/pslra-1/firstenergy-corp-loss-submission-form?id=9523&from=1

Qutoutiao Inc. (NASDAQ:QTT)This lawsuit is on behalf of persons and entities that: a) purchased or otherwise acquired Qutoutiao American Depositary Shares pursuant and/ortraceable to the registration statement and prospectus issued in connection with the Company’s September 2018 initial public offering; and/or b) purchased or otherwise acquired Qutoutiao securities between September 14, 2018 and July 15, 2020.Lead Plaintiff Deadline: October 19, 2020

During the class period, Qutoutiao Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) Qutoutiao replaced its advertising agent with a related party, thereby bypassing third-party oversight of the content and quality of the advertisements; (2) the Company placed advertisements on its mobile app for products whose claims could not be substantiated and thus were considered false advertisements under applicable regulations; (3) as a result, the Company would face increasing regulatory scrutiny and reputational harm; (4) as a result, the Company’s advertising revenue was reasonably likely to decline; and (5) 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.

Learn about your recoverable losses in QTT: http://www.kleinstocklaw.com/pslra-1/qutoutiao-inc-loss-submission-form-2?id=9523&from=1

Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. 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 10118jk@kleinstocklaw.comTelephone: (212) 616-4899Fax: (347) 558-9665www.kleinstocklaw.com

SOURCE: The Klein Law Firm

View source version on accesswire.com: https://www.accesswire.com/607427/The-Klein-Law-Firm-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders-of-WINS-FE-and-QTT

COMTEX_371751564/2457/2020-09-23T10:00:28

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

Copyright 2020 ACCESSWIRE

The MarketWatch News Department was not involved in the creation of this content.

Source Article