NEW YORK–(BUSINESS WIRE)–Faruqi & Faruqi, LLP, a leading national securities law firm, reminds
investors in Brightview Holdings, Inc. (“Brightview” or the
“Company”)(NYSE: BV) of the June 14, 2019 deadline to seek the role of
lead plaintiff in a federal securities class action that has been filed
against the Company.
If you invested in Brightview stock or options pursuant and/or
traceable to the Company’s July 2, 2018 initial public offering (“IPO”)
and would like to discuss your legal rights, click here: www.faruqilaw.com/BV.
There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292
or at 212-983-9330 or by sending an e-mail to [email protected].
The lawsuit has been filed in the U.S. District Court for the Eastern
District of Pennsylvania on behalf of all those who purchased Brightview
common stock pursuant and/or traceable to the Company’s July 2, 2018
IPO. The case, Speiser v. Brightview Holdings, Inc., No.
19-cv-01610 was filed on April 11, 2019.
The lawsuit focuses on whether the Company and its executives violated
federal securities laws by failing to disclose that: (i) a material
portion of Brightview’s contracts were under-performing 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; and (iv) as a result, the Offering Documents were materially
false and/or misleading and failed to state information required to be
Since Brightview’s IPO, the Company’s share price has declined from its
IPO price of $22.00 by approximately 31.88%.
The court-appointed lead plaintiff is the investor with the largest
financial interest in the relief sought by the class who is adequate and
typical of class members who directs and oversees the litigation on
behalf of the putative class. Any member of the putative class may move
the Court to serve as lead plaintiff through counsel of their choice, or
may choose to do nothing and remain an absent class member. Your ability
to share in any recovery is not affected by the decision to serve as a
lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding
Brightview’s conduct to contact the firm, including whistleblowers,
former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with respect
to any future matter. We welcome the opportunity to discuss your
particular case. All communications will be treated in a confidential
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
York, NY 10017
Attn: Richard Gonnello, Esq.
(877) 247-4292 or (212) 983-9330