Cases
Stericycle, Inc. (NASDAQ: SRCL)
Securities Class Action
Overview
Overview
- Date:
- 8/4/2016
- Company Name:
- Stericycle, Inc.
- Stock Symbol:
- SRCL
- Class Period:
- FROM 2/7/2013 TO 7/28/2016
- Status:
- Closed/Complete
- Court:
- U.S. District Court: District of Northen Illinois
NEW YORK, August 4, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities who acquired Stericycle, Inc. (NASDAQ: SRCL) securities between February 7, 2013 and July 28, 2016 (the “Class Period”).
Stericycle is an international waste management and disposal company that specializes in the collection and disposal of regulated and specialized waste. According to the lawsuit, throughout the Class Period, 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. By doing so, Stericycle artificially inflated its revenues and growth. The lawsuit alleges that defendants did not disclose this practice and, as a result, Stericycle routinely misrepresented its performance and earnings.
On October 22, 2015, Stericycle disclosed disappointing growth rates and revenues during the third quarter of 2015 and lowered its guidance going forward. These disclosures caused Stericycle's stock to decline by over 19%. 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. These disclosures caused Stericycle's stock to decline by over 21.5%.
If you acquired Stericycle securities during the Class Period, have information or 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 A. Fortunato, Esq. 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.
Stericycle is an international waste management and disposal company that specializes in the collection and disposal of regulated and specialized waste. According to the lawsuit, throughout the Class Period, 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. By doing so, Stericycle artificially inflated its revenues and growth. The lawsuit alleges that defendants did not disclose this practice and, as a result, Stericycle routinely misrepresented its performance and earnings.
On October 22, 2015, Stericycle disclosed disappointing growth rates and revenues during the third quarter of 2015 and lowered its guidance going forward. These disclosures caused Stericycle's stock to decline by over 19%. 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. These disclosures caused Stericycle's stock to decline by over 21.5%.
If you acquired Stericycle securities during the Class Period, have information or 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 A. Fortunato, Esq. 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.