LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24REV&src=ctag” target=”_blank”gt;$REVlt;/agt; lt;a href=”https://twitter.com/hashtag/ClassAction?src=hash” target=”_blank”gt;#ClassActionlt;/agt;–The
Schall Law Firm, a national shareholder rights litigation firm,
announces the filing of a class action lawsuit against Revlon, Inc.
(“Revlon” or “the Company”) (NYSE: REV)
for violations of §§10(b) and 20(a) of the Securities Exchange Act of
1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and
Exchange Commission.
Investors who purchased the Company’s shares between March 12, 2015 and
March 28, 2019, inclusive (the “Class Period”), are encouraged to
contact the firm before July 15, 2019.
If you are a shareholder who suffered a loss, click
here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of
the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA
90067, at 424-303-1964, to discuss your rights free of charge. You can
also reach us through the firm’s website at www.schallfirm.com,
or by email at [email protected].
The class, in this case, has not yet been certified, and until
certification occurs, you are not represented by an attorney. If you
choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading
statements to the market. Revlon failed to develop metrics to monitor
its enterprise resource planning (“ERP”) system after it was
implemented. The Company also failed to develop and maintain appropriate
internal controls on the recording and accounting of inventory,
receivables, net sales, and cost of goods sold in the ERP system. The
Company was incapable of maintaining controls on other related
accounting activities, such as approving manual journal entries. Due to
the poor implementation of its ERP system, Revlon failed to fulfill
order shipments totaling $64 million, causing $53.6 million in
incremental charges to triage declining customer service levels. Based
on these facts, the Company’s public statements were false and
materially misleading throughout the class period. When the market
learned the truth about Revlon, investors suffered damages.
Join
the case to recover your losses.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder rights
litigation.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and rules of ethics.
Contacts
The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
www.schallfirm.com
Office:
310-301-3335
Cell: 424-303-1964
[email protected]
