The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Northern District of Illinois on behalf of investors who purchased Stericycle, Inc. (NASDAQ: SRCL) securities between February 7, 2013 and April 28, 2016.
According to the complaint, defendants allegedly violated securities laws by virtue of their failure to disclose that Stericycle engaged in a systematic scheme whereby it routinely and systematically raised the rates it charged its smaller customers in violation of the contracts it had with those customers, thus inflating revenues and growth.
On October 22, 2015, Stericycle disclosed disappointing growth rates and revenues during the third quarter of 2015 and lowered its guidance. Then on April 28, 2016, Stericycle disclosed that its results for the first quarter of 2016 were below its guidance and analysts’ expectations, and lowered its 2016 guidance going forward.
If you suffered a loss in Stericycle you have until September 12, 2016 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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