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Vertiv Holdings Co.


The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Vertiv Holdings Co. (“Vertiv” or the “Company”) (NYSE: VRT) securities from April 28, 2021 through February 23, 2022 (the “Class Period”). Investors have until May 23, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
 
Vertiv is a global leader in the design, manufacturing and servicing of critical digital infrastructure technology that powers, cools, deploys, secures and maintains electronics that process, store and transmit data.
 
On February 23, 2022, Vertiv reported disappointing financial results, including $0.06 earnings per share for fourth quarter 2021, missing analyst estimates of $0.28 per share. Vertiv’s Chief Executive Officer attributed the poor results to management “consistently underestimat[ing] inflation and supply chain constraints for both timing and degree, which dictated a tepid 2021 pricing response.” On this news, the Company’s stock price declined by $7.19 per share, or approximately 36.74%, from $19.57 per share on February 22, 2022 to close at $12.38 per share on February 23, 2022.
 
The lawsuit alleges throughout the Class Period, Defendants made false and misleading statements and failed to disclose that: (1) the Company could not adequately respond to supply chain issues and inflation by increasing its prices; (2) as a result of the increasing costs, Vertiv’s earnings would be adversely impacted; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
 

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