A lawsuit was filed on behalf of investors in Pyxus International, Inc. (NYSE: PYX) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 06/25/2019 -- An investor, who purchased shares of Pyxus International, Inc. (NYSE: PYX), filed a lawsuit over alleged violations of Federal Securities Laws by Pyxus International, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Pyxus International, Inc. (NYSE: PYX) have certain options and for certain investors are short and strict deadlines running. Deadline: August 6, 2019. NYSE: PYX investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On November 8, 2018, Pyxus International, Inc disclosed that sales declined approximately 12% year-over-year due to the timing of shipments and the larger crop last year in South America.
On November 9, 2018, the SEC announced that Pyxus International, Inc had settled charges that it had materially misstated financial statements with the Commission from at least 2011 through the second quarter of 2015 due to improper and insufficient accounting, processes, and control activities for inventory, deferred crop costs, and revenue transactions in Africa.
Shares of Pyxus International, Inc. (NYSE: PYX) declined from $45.85 per share in October 2018 to as low as $11.53 per share in late December 2018.
The plaintiff claims that between June 7, 2018 and November 8, 2018, the Defendants failed to disclose to investors that the Company was experiencing longer shipping cycles, that, as a result, the Company's financial results would be materially affected, that the Company lacked adequate internal control over financial reporting, that the Company's accounting policies were reasonably likely to lead to regulatory scrutiny, and that, 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.
Those who purchased shares of Pyxus International, Inc. (NYSE: PYX) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.