|06-13-2018 05:28 PM CET - Business, Economy, Finances, Banking & Insurance||
Lawsuit filed for investors in shares of REV Group, Inc. (NYSE: REVG)
Press release from: Shareholders Foundation
An investor, who purchased shares of REV Group, Inc. (NYSE: REVG), filed a lawsuit over alleged Securities Laws violations by REV Group, Inc. in connection with with REV Group’s initial public offering (“IPO”) on or about January 27, 2017.
Investors, who shares of REV Group, Inc. (NYSE: REVG), have certain options and for certain investors are short and strict deadlines running. Deadline: August 7, 2018. NYSE: REVG investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that, REV Group, Inc. was unable to use its “strong visibility into future net sales” to “effectively plan” and manage its backlog of vehicles, REV Group, Inc. facilities were not operating efficiently or at a low cost to satisfy customer demand, and that as a result, defendants’ public statements were materially false and misleading at all relevant times.
On or about January 17, 2017, REV Group, Inc. sold 12,500,000 million shares of stock in its initial public stock offering, at $22. Then in October 2017, a secondary offering of 10,000,000 shares of common stock by certain selling stockholders was sold at the public offering price of $27.25 per share.
On Wednesday, June 6, 2018, REV Group, Inc. reported net sales in the second quarter of 2018 were $608.9 million. Adjusted net income for the second quarter 2018 was $15.6 million, or $0.24 per diluted share, a decline of 17.9% compared to $19.0 million, or $0.29 per diluted share, in the second quarter 2017.
Since the IPO and secondary offering, REV Group, Inc stock has declined from $33.15 per share in early 2018 to as low as $12.87 per share on June 7, 2018.
Those who purchased shares of REV Group, Inc. (NYSE: REVG) have certain options and should contact the Shareholders Foundation.
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Shareholders Foundation, Inc.
3111 Camino Del Rio North
San Diego, CA 92108
This release was published on openPR.
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