Investigation announced for Investors in GFL Environmental Inc. (NYSE: GFL) over potential Wrongdoing

Certain directors of GFL Environmental Inc are under investigation over potential breaches of fiduciary duties.

Investors who purchased shares of GFL Environmental Inc. (NYSE: GFL) and currently hold any of those NYSE: GFL shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain GFL Environmental Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

Canada based GFL Environmental Inc. operates as a diversified environmental services company in North America. GFL Environmental Inc. reported that its annual Total Revenue rose from over $1.33 billion in 2017 to over $3.34 billion in 2018, and that its Net Loss increased from $100.98 million in 2017 to $451.65 million in 2018.

On or about March 3, 2020, GFL Environmental Inc. sold about 75 million shares of stock in its initial public stock offering (the "IPO"), at $19.00 a share raising nearly $1.43 Billion in new capital.

On August 18, 2020, a report was issued alleging, that "GFL's leverage is understated by aggressive reporting of revenue and EBITDA, and free cash flow burn is understated by ~60%," claiming that "this is evidenced by financial restatements without explanation, and by minimizing a material weaknesses of financial controls."

Shares of GFL Environmental Inc. (NYSE: GFL) declined from $23.27 per share on August 6, 2020 to as low as $17.57 per share on August 19, 2020.

Those who purchased shares of GFL Environmental Inc. (NYSE: GFL) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

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. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.