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New Federal Securities Cases

Acuity Brands, Inc.

A class action lawsuit has been filed in the United States District Court for the District of Delaware against Acuity Brands, Inc. (NYSE: AYI) ("Acuity" or the "Company"), on behalf of investors who purchased the Company's securities during the period from June 29, 2016 through April 3, 2017 (the "Class Period").

Acuity is a provider of lighting and building management solutions for commercial, institutional, industrial, infrastructure, and residential applications. The lawsuit alleges that throughout the Class Period, the defendants failed to disclose material adverse facts about the Company's financial well-being, business relationships, and prospects.

On October 5, 2016, the Company released the first in a series of disappointing quarterly financial and operational reports to investors. During a conference call to discuss the Company's fourth quarter and full-year fiscal 2016 financial results, Defendant Vernon J. Nagel explained that "[t]his year's presidential election in the US and events such as UK's referendum vote to exit the European Union continue to create uncertainty and volatility." Following this news, shares of the Company's stock declined from $255.00 to $242.99 per share.

Then, on January 9, 2017, the Company issued a press release to report financial and operational results for the first quarter fiscal 2017. During a conference call to discuss those results, Defendant Nagel represented that "[d]emand softened in the back half of the quarter particularly for smaller projects apparently due to, what many of our customers are telling us, election jitters," and that profitability suffered from carrying excess employees during the quarter "with the anticipation of higher volumes" of sales than that actually generated. Following this additional news, shares of the Company's stock declined from $237.36 to $202.51 per share.

Finally, on April 4, 2017, the Company issued a press release to report financial and operational results for the second quarter fiscal 2017. During a conference call to discuss those results, Defendant Nagel acknowledged for the first time that demand softness "could potentially linger into the second half of 2017." Following this news, shares of the Company's stock fell from $204.06 to $173.93 per share, further damaging investors.

If you acquired Acuity securities during the Class Period, you may, no later than March 5, 2018, request that the court appoint you lead plaintiff of the Class. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions that could affect the overall recovery for class members, including decisions concerning settlement.

If you are a current or former Acuity shareholder and wish to obtain additional information, please fill out the contact form at the link below.


Investigation Contact Form

Acuity Brands, Inc. Contact Form



Attorneys

Ira M. Press


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