Otis Worldwide Corp
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Industrials : Machinery | Mid Cap Blend
Company profile

Otis Worldwide Corporation is an elevator and escalator manufacturing, installation and service company. The Company operates through two segments: New Equipment and Service. Through its New Equipment segment, it designs, manufactures, sells and installs a range of passenger and freight elevators, as well as escalators and moving walkways to customers in the residential and commercial buildings, and infrastructure projects. The Company sells its New Equipment units directly to customers, as well as through agents and distributors globally. Through its Service segment, the Company performs maintenance and repair services for both its products and those of other manufacturers and provides services to upgrade elevators and escalators. It provides Otis ONE, an Internet of Things (IoT) based solution to connect elevators to OtisLine. Otis also offers a range of passenger experience enhancements such as eView and Otis eCall.

Closing Price
$84.56
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
--
Day's Low
--
Volume
(Heavy Day)
Volume:
3,058,659

10-day average volume:
1,732,610
3,058,659

DEADLINE ALERT for UIS, VWE, CORZ, RENT: Law Offices of Howard G. Smith Reminds Investors of Class Actions on Behalf of Shareholders

11:00 am ET December 8, 2022 (Globe Newswire) Print
DEADLINE ALERT for UIS, VWE, CORZ, RENT: Law Offices of Howard G. Smith Reminds Investors of Class Actions on Behalf of ShareholdersGlobeNewswireDecember 08, 2022

BENSALEM, Pa., Dec. 08, 2022 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.

Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

Unisys Corporation (NYSE: UIS)

Class Period: August 3, 2022 - November 7, 2022

Lead Plaintiff Deadline: January 10, 2023

The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company's 2022 financial guidance was significantly overstated; (2) accordingly, once the truth was revealed, it was likely that the Company would be required to negatively revise its 2022 financial guidance; (3) in addition to the foregoing, material weaknesses existed in the Company's internal control over financial reporting; and (3) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Vintage Wine Estates, Inc. (NASDAQ: VWE)

Class Period: October 13, 2021 - September 13, 2022

Lead Plaintiff Deadline: January 13, 2023

The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose: (1) that, due to a material weakness related to its inventory controls and procedures, the Company lacked a reasonable basis to report inventory metrics; (2) that the Company understated its overhead burden in certain quarters, thereby overstating its adjusted EBITDA; (3) that, as a result of the foregoing, Vintage Wine was reasonably likely to incur significant charges to restate prior reporting; and (4) as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.

Core Scientific Inc. (NASDAQ: CORZ)

Class Period: January 3, 2022 - October 26, 2022

Lead Plaintiff Deadline: January 13, 2023

The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose: (1) that, due in part to the expiration of a favorable pricing agreement, the Company was experiencing increasing power costs; (2) that the Company's largest customer, Gryphon, lacked the financial resources to purchase the necessary miner rigs for Core Scientific to host; (3) that the Company was not providing hosting services to Celsius as required by their contract; (4) that the Company had implemented an improper surcharge to pass through power costs to Celsius; (5) that, as a result of the foregoing alleged breaches of contract, the Company was reasonably likely to incur liability to defend itself against Celsius; (6) that, as a result of the foregoing, the Company's profitability would be adversely impacted; (7) that, as a result, there was likely substantial doubt as to the Company's ability to continue as a going concern; and (8) as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.

Rent the Runway, Inc. (NASDAQ: RENT)

Class Period: October 2021 IPO

Lead Plaintiff Deadline: January 13, 2023

The complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose: (1) that RTR was continuing to face extraordinary business headwinds, such as transportation headwinds and labor wage rate increases, from the COVID-19 pandemic; (2) that RTR's active subscriber enrollments had sharply decelerated from the growth trajectory represented in the Registration Statement and, as a result, the Company was several months away from approaching its pre-pandemic levels of active subscriptions; (3) that RTR needed to substantially increase marketing and advertising costs from historical figures in order to attempt to grow its active subscriber network; (4) that RTR was suffering from ballooning fulfillment and transportation costs; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com



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COMTEX_420427619/2010/2022-12-08T11:00:01

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