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HomeMy WebLinkAboutReports - 2021.01.21 - 34060PORTFOLIO MONITORING REVIEW ______________________ January 2021 Short Form Summary OAKLAND COUNTY EMPLOYEES’ R ETIREMENT SYSTEM We identified the following companies which are subject to claims of fraud and/or misrepresentation during the period of December 8,2020 to January 8,2021.Information contained in this report is based upon the November 30,2020 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. 2021 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation Biogen Inc.Loss of $15,397 OCERS held 1,510 shares at the end of the Class Period at an average cost of $255.46 per share; 44 shares were purchased during the Class Period. The average market price was $245.26 per share during the period following the end of the Class Period through January 8, 2021. Based on this market price, we estimate that OCERS will recognize a PSLRA loss of $15,397 on this stock. Based on the amount of this loss, we did not recommend that OCERS seek lead plaintiff status. Alibaba Group Holding Limited No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Splunk, Inc Unknown at this time.Will continue to monitor as portfolio data becomes available. JOYY Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Berry Corporation No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Pinterest, Inc Loss of $31,033 OCERS held 13,200 shares at the end of the Class Period at an average cost of $25.06 per share; 5,850 shares were purchased during the Class Period. The average market price was $19.76 per share during the period following the end of the Class Period through the 90-day look-back period. Based on this market price, we estimate that OCERS will recognize a PSLRA loss of $31,033 on this stock. Based on the amount of this loss, we did not recommend that OCERS seek lead plaintiff status. Northern Dynasty Minerals Ltd.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Boston Scientific Corporation 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. Minerva Neurosciences, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Changyou.com Limited: ADS No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. 2021 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation Semiconductor Manufacturing Int'l Corp:ADS No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Fairmount Santrol Holdings Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Qiwi plc: ADS Unknown at this time.Will continue to monitor as portfolio data becomes available. Kandi Technologies Group, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Foundation Building Materials, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Sona Nanotech Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. GoodRx Holdings, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Triterras, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Restaurant Brands International Inc.Loss of $6,182 OCERS held 6.429 shares at the end of the Class Period at an average cost of $65.25 per share; 2,121 shares were purchased during the Class Period. The average market price was $62.34 per share during the period following the end of the Class Period through the 90-day look-back period. Based on this market price, we estimate that OCERS will recognize a PSLRA loss of $6,182 on this stock. Based on the amount of this loss, we did not recommend that OCERS seek lead plaintiff status. ACM Research, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Projekt S. A.: ADS Unknown at this time.Will continue to monitor as portfolio data becomes available. Solar Winds Corporation Unknown at this time.Will continue to monitor as portfolio data becomes available. QuantumScape Corporation Unknown at this time.Will continue to monitor as portfolio data becomes available. Tricida, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Slack Technologies, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Sunesis Pharmaceuticals, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available.