BENSALEM, Pa.–(BUSINESS WIRE)–$BKI–Law Offices of Howard G. Smith announces an investigation on behalf of Black Knight, Inc. (“Black Knight” or the “Company”) (NYSE: BKI) investors concerning the Company and its officers’ possible violations of federal securities laws.
On November 6, 2019, PennyMac Financial Services, Inc. (“PennyMac”) filed a lawsuit against Black Knight for unfair and deceptive trade practices, alleging that Black Knight used its market dominance in mortgage loan servicing systems to entrap licensees and stifle competition. The Complaint also reveals that PennyMac gave notice that it was terminating its contract with Black Knight in May 2019. Black Knight failed to properly disclose to the market the loss of this significant customer and substantial revenue source.
On this news, Black Knight’s share price fell $4.69, or nearly 8%, to close at $57.65 per share on November 6, 2019, thereby injuring investors.
If you purchased Black Knight securities, have information or 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 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 firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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