October 7, 2018 - 10:00 AM EDT
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CLASS ACTION UPDATE for TSLA, ORCL, NLSN, ZN and SBGI: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, Oct. 07, 2018 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you.

Tesla, Inc. (NASDAQ: TSLA)
Class Period:
Purchasers of shares between August 7, 2018 and August 17, 2018 and/or who had open short positions or put options for Tesla as of August 7, 2018 or August 8, 2018
Lead Plaintiff Deadline: October 9, 2018
Join the action: http://www.zlk.com/pslra-1/tesla-inc-loss-submission-form?wire=3

The lawsuit alleges: Tesla, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Defendants had not secured funding for the Going-Private Transaction; (2) Musk’s statements that the Going-Private Transaction only required shareholder approval were false since the Going-Private Transaction required approval by the Company’s Board of Directors and even the Board was unaware of the funding referred to by Musk; (3)  the status and likelihood of the Going-Private Transaction was misrepresented to the market because financing for it had not been secured and Board approval was required, and (4) as a result of the foregoing, Defendants’ statements about Tesla’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

To learn more about the Tesla, Inc. class action contact [email protected].

Oracle Corporation (NYSE: ORCL)
Class Period:
May 10, 2017 - March 19, 2018
Lead Plaintiff Deadline: October 9, 2018
Join the action: http://www.zlk.com/pslra-d/oracle-corporation-2?wire=3

The complaint alleges that throughout the Class Period defendants issued false and misleading statements regarding Oracle’s cloud revenues and failed to disclose that these revenues were driven, at least in part, by improper, coercive sales practices, including: (1) threatening existing customers with “audits” of their use of Oracle’s non-cloud software licenses and levying expensive penalties against those customers, unless the customers agreed to shift their business to Oracle cloud programs; (2) decreasing customer support for certain Oracle on-premises or hardware systems, in an effort to drive customers away from such systems and into cloud-based systems; and (3) strong-arming customers by threatening to raise the cost of legacy database licenses dramatically if the customers choose another cloud provider.

To learn more about the Oracle Corporation class action contact [email protected].

Nielsen Holdings plc (NYSE: NLSN)
Class Period:
February 11, 2016 - July 25, 2018
Lead Plaintiff Deadline: October 9, 2018
Join the action: http://www.zlk.com/pslra-d/nielsen-holdings?wire=3

The lawsuit alleges that, during the class period, Nielsen Holdings plc made materially false and/or misleading statements and/or failed to disclose that: (1) Nielsen’s sales were experiencing a permanent decline due to major budget cuts instituted by the Company’s CPG customers; (2) the Company’s CPG clients were reducing and cancelling Nielsen custom project work in favor of real-time analytical solutions; and (3) as a result, the Company’s positive statements about its business, operations, and financial conditions lacked a reasonable basis.

To learn more about the Nielsen Holdings plc class action contact [email protected].

Zion Oil & Gas, Inc. (NASDAQ: ZN)
Class Period:
March 12, 2018 - July 10, 2018
Lead Plaintiff Deadline: October 9, 2018
Join the action: http://www.zlk.com/pslra-d/zion-oil-gas-inc?wire=3

The lawsuit alleges: Zion Oil & Gas, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Zion was either already or was likely to soon become the subject of an U.S. Securities and Exchange Commission investigation; and (2) as a result, Zion’s public statements were materially false and misleading at all relevant times. On March 27, 2018, Zion issued a statement on Twitter, denying an allegation on the social media platform that there was an SEC investigation of the Company underway. On May 30, 2018, the Company tweeted "There is no SEC investigation into Zion Oil & Gas, Inc." Then on July 11, 2018, Zion announced it had received a subpoena from the SEC to produce documents as part of a fact-finding inquiry. Following this news, shares of Zion fell 11% to close at $3.56 per share on July 12, 2018.

To learn more about the Zion Oil & Gas, Inc. class action contact [email protected].

Sinclair Broadcast Group, Inc. (NASDAQ: SBGI)
Class Period:
February 22, 2017 - July 19, 2018
Lead Plaintiff Deadline: October 9, 2018
Join the action: http://www.zlk.com/pslra-d/sinclair-broadcast-group-inc?wire=3

The lawsuit alleges that, during the class period, Sinclair Broadcast Group, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the merger of Tribune Media Company (NYSE: TRCO) and Sinclair was not in compliance with FCC rules and regulations; (ii) Sinclair was not using its best efforts to eliminate any impediment to regulatory approval; (iii) Sinclair was engaging in non-arm’s length transactions with buyers connected to Sinclair’s controlling shareholders in order to skirt FCC ownership rules; and (iv) that, as a result of the foregoing, Defendant’s public statements were materially false and/or misleading and/or lacked a reasonable basis.  

On May 8, 2017, Sinclair announced it had entered into an agreement to acquire 100% of the issued outstanding shares of Tribune. On August 3, 2017, Sinclair filed a Form 8-K with the U.S. Securities and Exchange Commission disclosing that the U.S. Department of Justice had requested additional information and documentary material pertaining to the agreement. Then on August 9, 2018, Tribune said it had terminated the deal and was suing Sinclair for breach of contract following the FCC’s determination that Sinclair failed to fully disclose material information about the merger.

To learn more about the Sinclair Broadcast Group, Inc. class action contact [email protected].

You have until the lead plaintiff deadlines to request the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

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Source: GlobeNewswire (October 7, 2018 - 10:00 AM EDT)

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