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HomeMy WebLinkAboutReports - 2019.11.21 - 32510PORTFOLIO MONITORING REVIEW ______________________ November 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 October 4,2019 to November 8,2019.Information contained in this report is based upon the September 30,2019 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 NorthStar Realty Europe Corp.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Speedway Motorsports, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Monotype Imaging Holdings, Inc. No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. LegacyTexas Financial Group, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Meredith Corporation No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Choice Bancorp, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Navigant Consulting, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Caesars Entertainment Corporation No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Greenlane Holdings, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Genomic Health, Inc.Merger Case This is a mergers and acquisitons case with a deal value of $72.00 per share. OCERS held 9,147 shares at the end of the Class Period at an average cost of $34.01 per share. Carbon Black, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. United Financial Bancorp, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Oritani Financial Corp.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Castle Brands, 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 DXC Technology Company No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Gannett Co., Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Wesco Aircraft Holdings, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. OMNOVA Solutions Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Greenland Acquisition Corporation No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Farfetch Limited No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Corindus Vascular Robotics, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Slack Technologies, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Waitr Holdings Inc No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Isramco, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Allergan plc Merger Case This is a mergers and acquisitons case with a deal value of $187.94 per share. OCERS held 1,904 shares at the end of the Class Period at an average cost of $234.96 per share. Eldorado Resorts Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Restoration Robotics, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Cambrex Corporation No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Sundial Growers Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Chardan Healthcare Acquisition Corp.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 Match Group Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Alder BioPharmaceuticals, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Presidio, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. electroCore, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Overstock.com No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Uber Technologies, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Vitamin Shoppe Unknown at this time.Will continue to monitor as portfolio data becomes available. Milacron Holdings Corp Unknown at this time.Will continue to monitor as portfolio data becomes available. Avedro, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. SmileDirectClub, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Altria Group, Inc.No PSLRA recognized losses. OCERS held 15,120 shares at the end of the Class Period at an average cost of $56.93 per share, but made no purchases during the Class Period. Therefore, there were no PSLRA recognized losses and no action was recommended. Dropbox, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Vivint Solar, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Uber Technologies, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Dropbox, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Sonim Technologies, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Ruhnn Holding Limited: ADS Unknown at this time.Will continue to monitor as portfolio data becomes available. The Chemours Company No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. SRC Energy Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Ecology and Environment, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Third Coast Midstream, LLC No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Organovo Holdings, 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 Zynerba Pharmaceuticals, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. SemGroup Corporation Unknown at this time.Will continue to monitor as portfolio data becomes available. Empire Resorts, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Avon Products, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Pivotal Software, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Domo Inc No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. ADTRAN, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. United Community Financial Corp.Unknown at this time.Will continue to monitor as portfolio data becomes available. Dova Pharmaceuticals, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Pareteum Corporation Unknown at this time.Will continue to monitor as portfolio data becomes available. UP Fintech Holdings Limited: ADS No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Infosys Limited: ADS Unknown at this time.Will continue to monitor as portfolio data becomes available. Fibrocell Science, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Zendesk, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. iRobot Corporation Unknown at this time.Will continue to monitor as portfolio data becomes available. PG&E Corporation Unknown at this time.Will continue to monitor as portfolio data becomes available. Arotech Corporation Unknown at this time.Will continue to monitor as portfolio data becomes available. Twitter, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Sealed Air Corporation Loss of $33,486 OCERS held 4,641 shares at the end of the Class Period at an average cost of $44.60 per share, all of which shares were purchased during the Class Period. The average market price was $37.38 per share during the 90-day, look-back period following the end of the Class Period. Based on this market price, we estimate that OCERS will recognize a PSLRA loss of $33,486 on this stock. Based on the amount of this loss, we did not recommend that OCERS seek lead plaintiff status. Abeona Therapeutics Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. AZZ, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Ra Parmaceuticals, 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 Tandy Leather Factory, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Under Armour, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Resideo Technologies, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Quad/Graphics, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Achillion Pharmaceuticals, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Jagged Peak Energy Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available.