NEW YORK–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24BV&src=ctag” target=”_blank”gt;$BVlt;/agt; lt;a href=”https://twitter.com/hashtag/classaction?src=hash” target=”_blank”gt;#classactionlt;/agt;–The law firm of Kirby
McInerney LLP announces that a class action lawsuit has been filed
in the U.S. District Court for the Eastern District of Pennsylvania on
behalf of those who acquired BrightView Holdings, Inc. (“BrightView” or
the “Company”) (NYSE: BV)
securities pursuant and/or traceable to its Initial Public Offering
(“IPO”) on or about June 28, 2018. Investors have until June 14, 2019 to
apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that BrightView’s Registration Statement was false
and/or misleading and/or failed to disclose that (i) a material portion
of BrightView’s contracts were underperforming and/or represented
undesirable costs to the Company; (ii) as a result of the foregoing,
BrightView would implement a “managed exit” strategy to end its low
margin and non-profitable contracts with customers; (iii) this “managed
exit” strategy would negatively impact BrightView’s future revenue
throughout 2018, and would continue to do so well into fiscal year 2019.
On or about June 28, 2018, BrightView sold 21.3 million shares of stock
in its IPO at $22.00 per share, raising $468.6 million in new capital.
However, since the IPO, BrightView stock has declined. As of market
close on April 11, 2019, the stock price was $14.84.
If you acquired BrightView securities during the Class Period, have
information, or would like to learn more about these claims, please
contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at [email protected],
or by filling out this
contact form, to discuss your rights or interests with respect to
these matters without any cost to you.
Kirby
McInerney is a New York-based plaintiffs’ law firm concentrating in
securities, antitrust, and whistleblower litigation. The firm’s efforts
on behalf of shareholders in securities litigation have resulted in
recoveries totaling billions of dollars. Additional information about
the firm can be found at Kirby McInerney’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq., (212) 371-6600
[email protected]
www.kmllp.com
