From Globe News Wire:
LOS ANGELES, Feb. 12, 2020 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming March 24, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of Opera Limited (“Opera” or the “Company”) (NASDAQ: OPRA): investors who purchased (a) American Depositary Shares (“ADSs”) pursuant and/or traceable to the Company’s initial public offering commenced on or about July 27, 2018 (the “IPO” or “Offering”); and/or (b) securities between July 27, 2018 and January 15, 2020, inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, click here to participate.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, at 310-683-4745, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.
On January 16, 2020, Hindenburg Research published a report alleging, among other things, that “Opera’s apps are now in black and white violation of numerous Google [Play Store] rules” on predatory, short-term lending, and misleading apps and that Opera had spent $9.5 million to purchase a business already funded and operated by Opera.
On this news, Opera’s share price fell $1.69, or over 18%, to close at $7.33 per share on January 16, 2020, thereby injuring investors.
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) Opera’s sustainable growth and market opportunity for its browser applications was significantly overstated; (2) Defendants’ funded, owned, or otherwise controlled loan services applications and/or businesses relied on predatory lending practices; (3) all the foregoing, once revealed, were reasonably likely to have a material negative impact on Opera’s financial prospects, especially with respect to its lending applications’ continued availability on the Google Play Store; and (4), that as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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If you purchased Opera ADSs pursuant and/or traceable to the IPO and/or securities during the Class Period, you may move the Court no later than March 24, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-683-4745, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay and Murray LLP, Los Angeles
Charles Linehan, 310-683-4745 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com
Glancy Prongay and Murray LLP, Los Angeles
Charles Linehan, 310-683-4745 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com
Data Byte OPRA-DataByte
| Law Firm | Glancy Prongay and Murray LLP |
| Company Name | Opera Limited |
| Stock Symbol | OPRA |
| Class Period | July 27, 2018 and January 15, 2020 |
| Lead Plaintiff Motion Deadline | March 24, 2020 |
| Contact Attorney | Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 |
| Contact Phone | 310-801-2829 |
| Contact Email | shareholders@glancylaw.com |
| Press Release | https://www.glancylaw.com/news-faqs/glancy-prongay-murray-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-opera-limited/ |
| Glancy Page | https://www.glancylaw.com/cases-application/case-information/opera-limited/ |
| Case Summary | On January 16, 2020, Hindenburg Research published a report alleging, among other things, that “Opera’s apps are now in black and white violation of numerous Google [Play Store] rules” on predatory, short-term lending, and misleading apps and that Opera had spent $9.5 million to purchase a business already funded and operated by Opera.
On this news, Opera’s share price fell $1.69, or over 18%, to close at $7.33 per share on January 16, 2020, thereby injuring investors.
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| On this news, Trulieve’s share price fell $1.51, or more than 12%, to close at $10.40 per share on December 17, 2019, thereby injuring investors. | |
| About the Company | Opera Limited, through its subsidiaries, provides mobile and PC web browsers in Ireland, Russia, and internationally. It offers mobile browser products under the Opera Mini, Opera for Android, and Opera Touch names; PC browser under the Opera for Computers name; Opera News, a personalized news aggregation app; and Okash, a microfinance app. The company was founded in 1996 and is headquartered in Oslo, Norway. |
