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NEW YORK, May 15, 2019 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announced today that approximately one month remains to make a motion for lead plaintiff in a class action pending in the United States District Court for the Eastern District of Pennsylvania on behalf of all persons or entities (the “Class”) who purchased the common stock of BrightView, Inc. (“BrightView” or the “Company”) (NYSE: BV) pursuant or traceable to BrightView’s initial public offering on or around July 2, 2018 (the “IPO”). The complaint alleges that Defendants violated the Securities Act of 1933. If you wish to serve as lead plaintiff in the BrightView class action, you must move the Court no later than June 14, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery does not require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
BrightView is a Pennsylvania-based company that provides commercial landscaping services across the United States. The complaint alleges that Defendants made materially false and/or misleading statements in the Offering Documents relating to the IPO, including failing 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 purchased BrightView common stock, and/or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/brightview-bv-class-action-fraud-stock-126/ or contact Joe Seidman toll free at (877) 779-1414 or firstname.lastname@example.org.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer, and shareholder rights cases and recovered over $3.5 billion for its clients. The Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and been listed in The Legal 500 for ten consecutive years.
You can obtain a copy of the complaint by contacting the clerk of the court for the United District Court for the Eastern District of Pennsylvania.
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SOURCE Bernstein Liebhard LLP