The Gross Law Firm notifies investors that a securities action has commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of shareholders of BrightView Holdings, Inc. (NYSE: BV) who purchased shares pursuant to the IPO completed around July 2, 2018.
The filed complaint alleges that the defendants made materially false and misleading statements in the Offering Documents concerning the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) a material portion of BrightView’s contracts were underperforming 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 stated therein.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until June 14, 2019 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.