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HomeMy WebLinkAboutReports - 2019.07.25 - 31336PORTFOLIO MONITORING REVIEW ______________________ April 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 March 8,2019 to April 12,2019.Information contained in this report is based upon the March 31,2019 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 SI Financial Group No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Wirecard AG No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Western Gas Partners, LP No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Celgene Corporation Merger & Acquisition Case This is a merger and acquisitions case with a deal value of $111.43 per share. OCERS held 9,821 shares at the end of the Class Period at an average cost of $87.14 per share. Uxin Limited No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Bristow Group Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Avon Products, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Molson Coors Brewing Company No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. UQM Technologies, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Civitas Solutions, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Nation Commerce Corporation No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. PG&E Corporation No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Diplomat Pharmacy, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Vanda Pharmaceutical Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. 2019 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation Travelport Worldwide Limited No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. CVS Health Corporation ($49,797) OCERS held 13,456 shares at the end of the Class Period at an average cost of $74.75 per share. OCERS purchased 3,698 of these shares during the Class Period. The average market price from the end of the Class Period through April 16, 2019 was $55.49 per share Based on this market pricing, we estimate that OCERS will realize an approximate loss of $49,797 on this stock. Based on the amount of this loss, we do not recommend that OCERS seek lead plaintiff status. The Kraft Heinz Company ($148,394) OCERS held 9,874 shares at the end of the Class Period at an average cost of $75.76 per share. OCERS purchased 2,586 of these shares during the Class Period. OCERS sold all shares after the close of the Class Period at an average loss of 40.13 per share . Based on this average loss per share, we estimate that OCERS realized an approximate PSLRA loss of $148,394 on this stock. Based on the amount of this loss, we do not recommend that OCERS seek lead plaintiff status. Maxwell Technologies, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Stamps.com, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Versum Materials, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Syneos Health, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Weight Watchers International, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Mattel, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Inogen, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. CenturyLink, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. U.S. Xpress Enterprises, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. 2019 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation CAS Medical Systems, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Bridgepoint Education, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Spark Therapeuptics, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Immune Design Corp.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. The Parking Reit, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. NIO Inc.: ADS No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Corbus Pharmaceutical Holdings, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. United Microelectronics Corporation: ADS No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. The Untilmate Software Group, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Corcept Therapeutics Incorporated No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Medequities Realty Trust, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Mobile Telesystems PJSC: ADS No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Ohr Pharmaceutical, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Osiris Therapeutics, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Healthcare Services Group, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. American Renal Associates Holdings, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Nutanix, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. 2019 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation First Choice Healthcare Solutions, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. AT&T, Inc.No PSLRA recognized losses. OCERS held 39,169 shares at the end of the Class Period at an average cost of $32.37 per share, but made no purchases during the Class Period. Therefore, there were no PSLRA losses and no action is recommended. Coty Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Care.com, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Amyris, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. The Boeing Company No PSLRA recognized losses. OCERS held 7,939 shares at the end of the Class Period at an average cost of $101.94 per share. The average market price from the end of the Class Period through April 16, 2019 was $387.15 per share. Based on this market pricing, we estimate that OCERS will realize no losses on this stock, and no action is recommended. The Boeing Company No PSLRA recognized losses. OCERS held 7,959 shares at the end of the Class Period at an average cost of $103.01 per share. The average market price from the end of the Class Period through April 16, 2019 was $387.15 per share. Based on this market pricing, we estimate that OCERS will realize no losses on this stock, and no action is recommended. TCF Financial Corporation Unknown at this time.Will continue to monitor as portfolio data becomes available. SunTrust Banks, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. GTx, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. ComScore, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Orion Group Holdings, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Mueller Water Products, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Zogenix, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available.