{"id":396248,"date":"2020-12-09T08:03:28","date_gmt":"2020-12-09T13:03:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=396248"},"modified":"2020-12-09T08:03:28","modified_gmt":"2020-12-09T13:03:28","slug":"lawsuits-for-securities-violations-filed-against-tile-yy-and-lrn-block-leviton-llp-reminds-investors-of-class-actions-for-violations-of-the-federal-securities-laws","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuits-for-securities-violations-filed-against-tile-yy-and-lrn-block-leviton-llp-reminds-investors-of-class-actions-for-violations-of-the-federal-securities-laws\/","title":{"rendered":"LAWSUITS FOR SECURITIES VIOLATIONS FILED AGAINST TILE, YY, AND LRN: Block & Leviton LLP Reminds Investors of Class Actions for Violations of the Federal Securities Laws"},"content":{"rendered":"
\n

BOSTON, Dec. 09, 2020 (GLOBE NEWSWIRE) — Block & Leviton LLP (www.blockleviton.com<\/a>), a national securities litigation firm, reminds investors that securities class actions have been filed against Interface, Inc. (NASDAQ: TILE), JOYY, Inc. (NASDAQ: YY), and K12 Inc. (NYSE: LRN). Shareholders interested in serving as lead plaintiff have until the deadlines listed below to move the court. Further details about the cases are described below. There is no cost or obligation to you.<\/p>\n

TILE Shareholders \u2013 Click Here: https:\/\/www.blockleviton.com\/cases\/tile<\/a><\/p>\n

YY Shareholders \u2013 Click Here: https:\/\/www.blockleviton.com\/cases\/joyy<\/a><\/p>\n

LRN Shareholders \u2013 Click Here: https:\/\/www.blockleviton.com\/cases\/k12<\/a><\/p>\n

\n
\n Interface<\/u>
\n <\/strong>
\n
\n , Inc. (NASDAQ: <\/u>
\n <\/strong>
\n
\n TILE<\/u>
\n <\/strong>
\n
\n ) \u2013 Lead Plaintiff Deadline of <\/u>
\n <\/strong>
\n
\n January 11<\/u>
\n <\/strong>
\n
\n , 202<\/u>
\n <\/strong>
\n
\n 1<\/u>
\n <\/strong>\n <\/p>\n

On September 28, 2020, Interface announced the conclusion of the long-awaited investigation by the U.S. Securities and Exchange Commission into Interface\u2019s historical quarterly earnings per share calculations and rounding practices. Interface agreed to pay a $5 million fine to resolve the matter, and was ordered to cease-and-desist from violating the federal securities laws. According to the Wall Street <\/em>Journal<\/em>, the SEC had charged Interface for reporting earnings that did not comply with the Generally Accepted Accounting Principles for multiple quarters in 2015 and 2016. Interface allegedly made unsupported, manual accounting adjustments, often when internal forecasts indicated the Company would fall short of Wall Street estimates, the SEC found. Per the SEC, Interface would then report earnings that met or exceeded those consensus estimates. In addition to the Company\u2019s $5 million fine, two of Interface\u2019s former executives agreed to pay penalties of $45,000 and $70,000.<\/p>\n

A lawsuit alleging violations of federal securities laws has been filed against Interface and certain of its officers and directors. The suit alleges that between March 2, 2018 and September 28, 2020, Interface misled investors by, among other things, reporting artificially inflated income and earnings per share in 2015 and 2016, failing to disclose and\/or downplaying that Interface and certain of its employees were under investigation by the SEC, and having inadequate disclosure controls and procedures and internal controls over financial reporting. The lawsuit was filed in the U.S. District Court for the Eastern District of New York, and is captioned Swanson v. Interface, Inc., et al.<\/em>, No. 20-cv-5518.<\/p>\n

\n
\n JOYY, Inc<\/u>
\n <\/strong>
\n
\n . <\/u>
\n <\/strong>
\n
\n (<\/u>
\n <\/strong>
\n
\n NASDAQ: YY<\/u>
\n <\/strong>
\n
\n ) \u2013 Lead Plaintiff Deadline of <\/u>
\n <\/strong>
\n
\n January 19<\/u>
\n <\/strong>
\n
\n , 202<\/u>
\n <\/strong>
\n
\n 1<\/u>
\n <\/strong>\n <\/p>\n

On November 18, 2020, analyst Muddy Waters announced that it would short JOYY, calling the Company \u201ca multibillion-dollar fraud.\u201d Muddy Waters wrote that \u201cYY\u2019s component businesses are a fraction of the size it reports, and that the company\u2019s reported user metrics, revenues, and cash balances are predominantly fraudulent.\u201d The market was stunned by this report, and as a result, shares of JOYY common stock fell over 26% in just a few hours.<\/p>\n

A lawsuit alleging violations of federal securities laws has been filed against JOYY and certain of its officers and directors. The suit alleges a class period of April 28, 2016 and November 18, 2020. The lawsuit asserts that JOYY dramatically overstated its revenues from live streaming sources. It further alleges that at any given time, the majority of JOYY\u2019s users were bots, which JOYY used to effect a roundtripping scheme that manufactured the false appearance of revenues. Moreover, the lawsuit asserts that JOYY\u2019s acquisition of Bigo was largely contrived to benefit corporate insiders. The lawsuit was filed in the U.S. District Court for the Central District of California, and is captioned Hershewe v. JOYY Inc., et al.<\/em>, No. 20-cv-10611 (C.D. Cal.).<\/p>\n

\n
\n K12 Inc. (NYSE: LRN) \u2013 Lead Plaintiff <\/u>
\n <\/strong>
\n
\n Deadline of January 19, 2021<\/u>
\n <\/strong>\n <\/p>\n

K12, as a technology-based education company, appeared primed to benefit from the shift to online and virtual learning necessitated by the COVID-19 pandemic, and embarked on a campaign to portray itself as capable and ready to take advantage of the shift to virtual instruction. In reality, K12 was neither ready nor capable. As this became clear to the market, the stock price plunged over 50% from its 2020 peak price of over $50.00 per share.<\/p>\n

A lawsuit has been filed against K12 and certain of its executives in the U.S. District Court for the Eastern District of Virginia, alleging a class period of April 27, 2020 to September 18, 2020. The lawsuit is captioned Lee v. K12 Inc., et al.<\/em>, No. 1:20-cv-01419 (E.D. Va.). The suit alleges that K12 issued false and misleading statements concerning, among other things, K12\u2019s technological capabilities, infrastructure, and expertise to support the increased demand for virtual and blended education necessitated by the COVID-19 pandemic. The suit further asserts that K12 lacked adequate cybersecurity protocols and protections to prevent the disabling of its computer systems, yet misrepresented its data security strength.<\/p>\n

If you purchased or acquired shares of TILE, YY, or LRN and have questions about your legal rights or possess information relevant to these matters, please contact Block & Leviton attorneys at (617) 398-5600, via email at cases@blockleviton.com<\/a>, or via the links provided above.<\/p>\n

Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country\u2019s financial markets. The firm represents many of the nation\u2019s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm\u2019s lawyers have recovered billions of dollars for its clients.<\/p>\n

This notice may constitute attorney advertising.<\/p>\n

CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
www.blockleviton.com<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

BOSTON, Dec. 09, 2020 (GLOBE NEWSWIRE) — Block & Leviton LLP (www.blockleviton.com), a national securities litigation firm, reminds investors that securities class actions have been filed against Interface, Inc. (NASDAQ: TILE), JOYY, Inc. (NASDAQ: YY), and K12 Inc. (NYSE: LRN). Shareholders interested in serving as lead plaintiff have until the deadlines listed below to move the court. Further details about the cases are described below. There is no cost or obligation to you. TILE Shareholders \u2013 Click Here: https:\/\/www.blockleviton.com\/cases\/tile YY Shareholders \u2013 Click Here: https:\/\/www.blockleviton.com\/cases\/joyy LRN Shareholders \u2013 Click Here: https:\/\/www.blockleviton.com\/cases\/k12 Interface , Inc. (NASDAQ: TILE ) \u2013 Lead Plaintiff Deadline of January 11 , 202 1 On September 28, 2020, Interface announced the conclusion of the long-awaited investigation by … <\/p>\n

Continue reading “LAWSUITS FOR SECURITIES VIOLATIONS FILED AGAINST TILE, YY, AND LRN: Block & Leviton LLP Reminds Investors of Class Actions for Violations of the Federal Securities Laws”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-396248","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nLAWSUITS FOR SECURITIES VIOLATIONS FILED AGAINST TILE, YY, AND LRN: Block & Leviton LLP Reminds Investors of Class Actions for Violations of the Federal Securities Laws - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuits-for-securities-violations-filed-against-tile-yy-and-lrn-block-leviton-llp-reminds-investors-of-class-actions-for-violations-of-the-federal-securities-laws\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LAWSUITS FOR SECURITIES VIOLATIONS FILED AGAINST TILE, YY, AND LRN: Block & Leviton LLP Reminds Investors of Class Actions for Violations of the Federal Securities Laws - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BOSTON, Dec. 09, 2020 (GLOBE NEWSWIRE) — Block & Leviton LLP (www.blockleviton.com), a national securities litigation firm, reminds investors that securities class actions have been filed against Interface, Inc. 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(NASDAQ: TILE), JOYY, Inc. (NASDAQ: YY), and K12 Inc. (NYSE: LRN). Shareholders interested in serving as lead plaintiff have until the deadlines listed below to move the court. Further details about the cases are described below. There is no cost or obligation to you. TILE Shareholders \u2013 Click Here: https:\/\/www.blockleviton.com\/cases\/tile YY Shareholders \u2013 Click Here: https:\/\/www.blockleviton.com\/cases\/joyy LRN Shareholders \u2013 Click Here: https:\/\/www.blockleviton.com\/cases\/k12 Interface , Inc. (NASDAQ: TILE ) \u2013 Lead Plaintiff Deadline of January 11 , 202 1 On September 28, 2020, Interface announced the conclusion of the long-awaited investigation by … Continue reading \"LAWSUITS FOR SECURITIES VIOLATIONS FILED AGAINST TILE, YY, AND LRN: Block & Leviton LLP Reminds Investors of Class Actions for Violations of the Federal Securities Laws\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuits-for-securities-violations-filed-against-tile-yy-and-lrn-block-leviton-llp-reminds-investors-of-class-actions-for-violations-of-the-federal-securities-laws\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-09T13:03:28+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5ODg0NyMzODYyMTM5IzIwMTgxMTk=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuits-for-securities-violations-filed-against-tile-yy-and-lrn-block-leviton-llp-reminds-investors-of-class-actions-for-violations-of-the-federal-securities-laws\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuits-for-securities-violations-filed-against-tile-yy-and-lrn-block-leviton-llp-reminds-investors-of-class-actions-for-violations-of-the-federal-securities-laws\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"LAWSUITS FOR SECURITIES VIOLATIONS FILED AGAINST TILE, YY, AND LRN: Block & Leviton LLP Reminds Investors of Class Actions for Violations of the Federal Securities Laws","datePublished":"2020-12-09T13:03:28+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuits-for-securities-violations-filed-against-tile-yy-and-lrn-block-leviton-llp-reminds-investors-of-class-actions-for-violations-of-the-federal-securities-laws\/"},"wordCount":903,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuits-for-securities-violations-filed-against-tile-yy-and-lrn-block-leviton-llp-reminds-investors-of-class-actions-for-violations-of-the-federal-securities-laws\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5ODg0NyMzODYyMTM5IzIwMTgxMTk=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuits-for-securities-violations-filed-against-tile-yy-and-lrn-block-leviton-llp-reminds-investors-of-class-actions-for-violations-of-the-federal-securities-laws\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuits-for-securities-violations-filed-against-tile-yy-and-lrn-block-leviton-llp-reminds-investors-of-class-actions-for-violations-of-the-federal-securities-laws\/","name":"LAWSUITS FOR SECURITIES VIOLATIONS FILED AGAINST TILE, YY, AND LRN: Block & Leviton LLP Reminds Investors of Class Actions for Violations of the Federal Securities Laws - 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