The Law Offices of Vincent Wong announce that a securities lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of investors who purchased BrightView Holdings, Inc. (“BrightView” or the “Company”) (NYSE: BV) shares pursuant to the IPO in or around July 2, 2018.
The 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 purchased BrightView stock pursuant to the IPO you have until June 14, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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