NEW YORK–(BUSINESS WIRE)–#BKI–Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against Black Knight, Inc. (NYSE: BKI) on behalf of Black Knight stockholders. Our investigation concerns whether Black Knight has violated the federal securities laws and/or engaged in other unlawful business practices.
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On November 6, 2019, PennyMac Financial Services, Inc. (“PennyMac”) announced that it had filed a lawsuit against Black Knight, alleging that the Company “entraps its mortgage lending customers by encouraging them to invest substantial resources to supplement Black Knight’s antiquated MSP product” and “exploits customers’ reluctance to leave by repeatedly forcing subsequent price increases onto its customers without any improvements or innovations to its product.” Additionally, PennyMac claims that Black Knight failed to properly disclose to investors the imminent loss of a significant customer following PennyMac’s May 2019 notice of its nonrenewal of Black Knight’s LoanSphere® MSP.
On this news, Black Knight’s stock price fell $4.69, or 7.5%, to close at $57.65 on November 6, 2019.
If you purchased or otherwise acquired Black Knight shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.