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HomeMy WebLinkAboutReports - 2019.02.21 - 31318PORTFOLIO MONITORING REVIEW ______________________ February 2019 Short Form Summary OAKLAND COUNTY EMPLOYEES’ RETIREMENT SYSTEM We identified the following companies which are subject to claims of fraud and/or misrepresentation during the period of January 4,2019 to February 8,2019.Information contained in this report is based upon the December 31,2018 data,which is the latest available from Northern Trust.We will continue to monitor these cases for any developments that could impact OCERS, including settlements. 2019 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation Impeva, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. ConvergeOne Holdings, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Nevada Gold & Casinos, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. SendGrid, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Loma Negra Compania Indutrial: ADS No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Dover Downs Gaming & Entertainment, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Aphria Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Arris International PLC No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Apptio, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. iPass, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Nissan Motor Co., Ltd.: ADS No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Pacific Biosciences of California, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Intersections Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Bojangles', Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. 2019 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation Telodoc Health, Inc.No PSLRA recognized losses. OCERS held 15,433 shares at the end of the Class Period at an average cost of $34.62 per share. The average market price from the end of the Class Period through February 10, 2019 was $55.81 per share. Based on this market pricing, we estimate that OCERS will realize no losses on this stock, and no action was recommended. Red Hat , Inc.Merger Case This is a merger and acquistion case with a deal value of $190.00 per share. OCERS held 5,579 shares at the end of the Class Period at an average cost of $122.22 per share. Inuvo, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Newfield Exploration Corpoaration No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. XPO Logistics, Inc.($68,863) OCERS held 9,450 shares at the end of the Class Period at an average cost of $65.44 per share. The average market price from the end of the Class Period through February 12, 2019 was $58.15 per share. Based on this market pricing, we estimate that OCERS will realize an approximate loss of $68,863 on this stock. Based on the amount of this loss, we did not recommend that OCERS seek lead plaintiff status. Immunomedics, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Access National Corporation No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Allergan plc No PSLRA recognized losses. OCERS held 3,649 shares at the end of the Class Period at an average cost of $235.68 per share, but there were no purchases made during the Class Period; therefore, there were no PSLRA recognized losses, and no action was recommended. Athenahealth, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. YRC Worldwide, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Nova Lifestyle, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Perrigo Company PLC No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. 2019 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation The Goldman Sachs Group, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Yangtze River Port and Logistics Limited No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Wildhorse Resource Development Corporation Unknown at this time.Will continue to monitor as portfolio data becomes available. TESARO, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. L3 Technologies, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Investment Technology Group, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Liberty Health Sciences, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Natural Health Trends Corp.Unknown at this time.Will continue to monitor as portfolio data becomes available. China Techfaith Wireless Communications No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Sogou Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Nutrisystem, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. MBT Financial Corp.Unknown at this time.Will continue to monitor as portfolio data becomes available. Finisar Corporation Unknown at this time.Will continue to monitor as portfolio data becomes available. Edge Therapeutics, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Danske Bank A/S No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. AxoGen, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Wayfair Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Markel Corporation No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Resolute Energy Corporation Unknown at this time.Will continue to monitor as portfolio data becomes available. Maxar Technologies Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. DBV Technologies S.A.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Avenue Therapeutics, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. 2019 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation Qihoo 360 Technology Co. Ltd.: ADS No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. InfaREIT Inc Unknown at this time.Will continue to monitor as portfolio data becomes available. Activision Blizzard, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. JA Solar Holdings Co. Ltd.: ADS No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. 22nd Century Group, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Trinity Capital Corporation Unknown at this time.Will continue to monitor as portfolio data becomes available. Ferroglobe PLC No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Arlo Technologies, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Micron Technology, Inc.($113,225) OCERS held 15,514 shares at the end of the Class Period at an average cost of $42.78 per share. The average market price from the end of the Class Period through February 10, 2019 was $35.48 per share. Based on this market pricing, we estimate that OCERS will realize an approximate loss of $113,225 on this stock. Based on the amount of this loss, we did not recommend that OCERS seek lead plaintiff status. MINDBODY Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Loxo Oncology, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Vale S.A.Unknown at this time.Will continue to monitor as portfolio data becomes available. Tyme Technologies, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Lexicon Pharmaceuticals, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Proshares Trust II No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Alta Mesa Resources, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Revolution Lighting Technologies, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. 2019 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation General Electric Company ($83,349) OCERS held 60,130 shares at the end of the Class Period at an average cost of $13.27 per share, of which 16,292 shares were purchased during the Class Period. The average market price from the end of the Class Period through the 90-day, look-back period was $8.15 per share. Based on this market pricing, we estimate that OCERS will realize an approximate loss of $83,349 on this stock. Based on the amount of this loss, we did not recommend that OCERS seek lead plaintiff status. Astec Industries, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Celgene Corporation Unknown at this time.Will continue to monitor as portfolio data becomes available. Western Gas Partners, LP Unknown at this time.Will continue to monitor as portfolio data becomes available. Wirecard AG Unknown at this time.Will continue to monitor as portfolio data becomes available. SI Financial Group Unknown at this time.Will continue to monitor as portfolio data becomes available. Immunomedics, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available.