Black Knight, Inc. Investigation
The law firm of Kirby McInerney LLP is investigating potential claims against Black Knight, Inc. (“Black Knight” or the “Company”) (NYSE: BKI). This investigation concerns whether Black Knight has violated federal securities laws and/or engaged in other unlawful business practices.
On November 6, 2019, PennyMac Financial Services, Inc. (“PennyMac”) announced that it had filed a lawsuit against Black Knight alleging that the Company “entraps its mortgage lending customers by encouraging them to invest substantial resources to supplement Black Knight’s antiquated MSP product” and “exploits customers’ reluctance to leave by repeatedly forcing subsequent price increases onto its customers without any improvements or innovations to its product.” Furthermore, PennyMac claims that Black Knight failed to properly disclose to investors the imminent loss of a significant customer following PennyMac’s May 2019 notice of its nonrenewal of Black Knight’s LoanSphere® MSP.
On this news, Black Knight’s stock price fell $4.69, or 7.5%, to close at $57.65 on November 6, 2019.
If you acquired Black Knight securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.