Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Evoqua Water Technologies Corp. (AQUA)
NEW YORK, Nov. 07, 2018 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Evoqua Water Technologies Corp. (“Evoqua” or the “Company”) (NYSE: AQUA) in the United States District Court for the Southern District of New York on behalf of a class consisting of investors who purchased or otherwise acquired securities of Evoqua between November 6, 2017 through October 30, 2018, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) Evoqua failed to successfully integrate its prior acquisitions; (ii) Evoqua was experiencing supply chain disruptions influenced by tariffs and an extended delay on a large aquatics project; and (iii) as a result of the foregoing, Evoqua’s public statements were materially false and misleading at all relevant times.
On October 30, 2018, Evoqua announced its preliminary financial results for the fourth quarter and fiscal year ended September 30, 2018, which fell below the Company’s and analyst’s expectations. Evoqua stated that the shortfalls were “primarily due to acquisition system integration issues, supply chain disruptions influenced by tariffs and an extended delay on a large aquatics project.” On this news, Evoqua’s stock price fell $4.78 per share, or 34.64%, to close at $9.02 on October 30, 2018.
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the January 7, 2019 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at firstname.lastname@example.org or email@example.com.
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