Stull, Stull & Brody Announces Class Action Suit on Behalf of Purchasers of the Securities of Switch, Inc. (NYSE: SWCH)
Stull, Stull & Brody
Aug. 31, 2018
NEW YORK, Aug. 31, 2018 (GLOBE NEWSWIRE) -- Stull, Stull & Brody (“SS&B”) announces that a class action lawsuit has been filed on behalf of purchasers of the securities of Switch, Inc. (“Switch” or the “Company”), pursuant and/or traceable to the Company’s October 6, 2017 initial public offering (“IPO”).
The complaint alleges that the Company made materially false and misleading statements and/or failed to disclose that: (i) Switch’s Grand Rapids and Atlanta facilities would never be as profitable as its Las Vegas facility, diminishing the yield on Switch’s recent capital expenditures; (ii) Switch spent more than $64 million on unbudgeted capital expenditures during the third quarter of 2017 that was not disclosed to investors until after the IPO; and (iii) Switch overstated fiscal 2017 revenue growth and fiscal 2018 revenue prospects.
The complaint alleges that subsequent to the Company’s IPO the price of Switch’s securities declined substantially as a result of defendants’ violations and thereby damaged investors.
Investors who purchased or otherwise acquired Switch securities pursuant and/or traceable to the Company’s October 6, 2017 IPO may contact Stull, Stull & Brody, by email to email@example.com, by telephone at 1-212-687-7230, Ext. 145, or by fax to 1-212-490-2022.
You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action.
SS&B has litigated class actions for violations of securities laws and breaches of fiduciary duty on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. SS&B has offices in New York and Beverly Hills. SS&B’s website ( www.ssbny.com ) has additional information about the firm.
Attorney advertising. Prior results do not guarantee a similar outcome. This press release may be considered Attorney Advertising in some jurisdictions under applicable laws and ethical rules.
CONTACT:Stull, Stull & Brody1-212-687-7230, Ext. 145Attn: Jason D’AgnenicaEmail: firstname.lastname@example.org