Q: Just wanted to make a correction to a reply you gave to a previous question on EFN. You mentioned that the small company facing the lawsuit is Clarion. As you can see from the extract below, it's actually Celadon Group Inc.
Keep up the great work.
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NEW YORK, April 24, 2017 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Celadon Group Inc. (NYSE:CGI) who purchased shares between December 30, 2016 and April 18, 2017. The action, which was filed in the U.S. District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (i) CGI's equity contribution to its joint venture with Element Financial Corp. was $68.2 million, rather than the $100 million contribution the Company reported in its public filings; (ii) the Company is being actively investigated by the SEC; and (iii) that as a result of the foregoing, CGI's publicly disseminated financial statements were materially false and misleading.
Shareholders have until June 19, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
Keep up the great work.
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NEW YORK, April 24, 2017 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Celadon Group Inc. (NYSE:CGI) who purchased shares between December 30, 2016 and April 18, 2017. The action, which was filed in the U.S. District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (i) CGI's equity contribution to its joint venture with Element Financial Corp. was $68.2 million, rather than the $100 million contribution the Company reported in its public filings; (ii) the Company is being actively investigated by the SEC; and (iii) that as a result of the foregoing, CGI's publicly disseminated financial statements were materially false and misleading.
Shareholders have until June 19, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
