Robbins Arroyo LLP: Evoqua Water Technologies Corp. (AQUA) Misled Shareholders According to Class Action
SAN DIEGO & PITTSBURGH--(BUSINESS WIRE)--Nov 13, 2018--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Evoqua Water Technologies Corp. (NYSE: AQUA) have filed a class action complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1934 between November 6, 2017 and October 30, 2018. Evoqua provides a range of water and wastewater treatment systems and technologies, and mobile and emergency water supply solutions and services.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/evoqua-water-technologies-corp/
Evoqua Accused of Failing to Integrate Its Acquisitions
According to the complaint, Evoqua told investors that the company’s experienced management team had expanded the company’s operations to new target markets and had shown “successful acquisition and integration capabilities.” Despite these assurances, Evoqua had not successfully integrated its prior acquisitions and was experiencing an extended delay on a large aquatics project, among other obstacles. On October 30, 2018, Evoqua announced that its preliminary financial results for the fourth quarter and fiscal year ended September 30, 2018, fell below the company’s expectations. Evoqua attributed the disappointing results to acquisition system integration issues and supply chain disruptions influenced by tariffs. On this news, Evoqua’s stock plummeted over 34% to close at $9.02 per share on October 30, 2018.
Evoqua Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20181113006177/en/
CONTACT: Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Robbins Arroyo LLP
Copyright Business Wire 2018.
PUB: 11/13/2018 04:09 PM/DISC: 11/13/2018 04:09 PM