Cases
REV Group, Inc. (REVG)
Securities Class Action
Overview
Overview
- Date:
- 1/4/2019
- Company Name:
- REV Group, Inc.
- Stock Symbol:
- REVG
- Status:
- Closed/Complete
NEW YORK, January 4, 2019 – Bragar Eagel & Squire, P.C. is investigating potential claims against certain officers and directors of REV Group, Inc. (NYSE: REVG).
On June 8, 2018, purchasers of REV Group filed a class action complaint against the company’s officers and directors for alleged violations of the Securities Act of 1933 pursuant to the company’s January 27, 2017 initial public offering (“IPO”). The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) REV Group was unable to use its “strong visibility into future net sales” to “effectively plan” and manage its backlog of vehicles; (2) REV Group facilities were not operating efficiently or at a low cost to satisfy customer demand; and (3) as a result, defendants’ public statements were materially false and misleading at all relevant times.
On September 5, 2018, REV Group released its 2018 third quarter results, disclosing that it had reduced its full year 2018 outlook and that “certain business units … have underperformed.” The company also revealed that it encountered production inefficiencies, which “delayed product shipments beyond the quarter within all three of [its] segments.”
If you are a long term stockholder of REV Group, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On June 8, 2018, purchasers of REV Group filed a class action complaint against the company’s officers and directors for alleged violations of the Securities Act of 1933 pursuant to the company’s January 27, 2017 initial public offering (“IPO”). The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) REV Group was unable to use its “strong visibility into future net sales” to “effectively plan” and manage its backlog of vehicles; (2) REV Group facilities were not operating efficiently or at a low cost to satisfy customer demand; and (3) as a result, defendants’ public statements were materially false and misleading at all relevant times.
On September 5, 2018, REV Group released its 2018 third quarter results, disclosing that it had reduced its full year 2018 outlook and that “certain business units … have underperformed.” The company also revealed that it encountered production inefficiencies, which “delayed product shipments beyond the quarter within all three of [its] segments.”
If you are a long term stockholder of REV Group, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.