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HomeMy WebLinkAboutReports - 2020.05.21 - 33228PORTFOLIO MONITORING REVIEW ______________________ May 2020 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 April 3, 2020 to May 6,2020.Information contained in this report is based upon the March 31,2020 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. 2020 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation TiVo Corporation No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Canaan, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Hexel Corporation Merger / Acquestion Case This is a mergers and acquisitions case in which the complaint demands additional disclosures only and involves the exchange of shares with the acquiring company in a stock-only deal. The estimated market value of the transaction is $63.46 per share. OCERS held 26,259 shares on the date of the suit at an average cost of $54.98 per share. Cronos Group Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Tilray, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. PharmCielo Ltd.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Gilat Satellite Networks Ltd.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Stein Mart, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. NMC Health Plc: ADS No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Funko, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Norwegian Cruise Lines No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Inovio Pharmaceuticals, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. CenterState Bank Corporation No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. 2020 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation Forty Seven, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Forescout Technologies, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. TD Ameritrade Holding Corporation Merger / Acquestion Case This is a mergers and acquisitions case in which the complaint demands additional disclosures only and involves the exchange of shares with the acquiring company in a stock-only deal. The estimated market value of the transaction is $34.95 per share. OCERS held 14,178 shares on the date of the suit at an average cost of $36.08 per share. Cincinnati Bell Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Front Yard Residential Corporation No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Delphi Technologies PLC No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Paysign, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Adesto Technologies Corporation No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. XP Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. RTI Surgical Holdings, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Exela Technologies Inc No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Pope Resources No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. DouYu International Holdings Limited: ADS No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Business First Bancshares, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. HF Foods Group Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. 2020 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation Anaptysbio, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Mesa Air Group Incorporated Unknown at this time.Will continue to monitor as portfolio data becomes available. Legg Mason, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. EQM Midstream Partners, LP Unknown at this time.Will continue to monitor as portfolio data becomes available. Luckin Coffee Inc.:ADS Unknown at this time.Will continue to monitor as portfolio data becomes available. Tufin Software Technologies Ltd.Unknown at this time.Will continue to monitor as portfolio data becomes available. CVR Refining, LP No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Zoom Video Communications, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. The Meet Group, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Silver Lake Group, L.L.C.:Intelsat S.A.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Neon Therapeutics, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Fifth Third Bancorp No PSLRA recognized losses. OCERS held 64,573 shares at the end of the Class Period at an average cost of $23.09 per share, but made no purchases during the Class Period. Therefore, there were no PSLRA recognized losses and no action was recommended. eHealth, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Tetraphase Pharmaceuticals, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. FGL Holdings Unknown at this time.Will continue to monitor as portfolio data becomes available. E-House (China) Holdings Limited: ADS Unknown at this time.Will continue to monitor as portfolio data becomes available. ServiceMaster Global Holdings, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Mylan N.V Unknown at this time.Will continue to monitor as portfolio data becomes available. Bed Bath & Beyond Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Anthus Capital Holdings, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. QIYI, Inc.: ADS Unknown at this time.Will continue to monitor as portfolio data becomes available. GSX Technology Inc.: ADS Unknown at this time.Will continue to monitor as portfolio data becomes available. GAIN Capital Holdings, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Opus Bank Unknown at this time.Will continue to monitor as portfolio data becomes available. 2020 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation Mobile Mini, Inc.Merger / Acquestion Case This is a mergers and acquisitions case in which the complaint demands additional disclosures only and involves the exchange of shares with the acquiring company in a stock-only deal. The estimated market value of the transaction is $23.69 per share. OCERS held 15,734 shares on the date of the suit at an average cost of $25.97 per share. Jumei International Holding Limited: ADS Unknown at this time.Will continue to monitor as portfolio data becomes available. Baidu, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. E*Trade Financial Corporation Merger / Acquestion Case This is a mergers and acquisitions case in which the complaint demands additional disclosures only and involves the exchange of shares with the acquiring company in a stock-only deal. The estimated market value of the transaction is $38.74 per share. OCERS held 11,228 shares on the date of the suit at an average cost of $45.36 per share. Phoenix Tree Holdings Limited: ADS Unknown at this time.Will continue to monitor as portfolio data becomes available. Akazoo S.A.Unknown at this time.Will continue to monitor as portfolio data becomes available. Groupon, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. SCWorx Corp.Unknown at this time.Will continue to monitor as portfolio data becomes available. Hallmark Financial Services Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action is recommended. Comtech Telecommunications Corp.Unknown at this time.Will continue to monitor as portfolio data becomes available.