Shuman Glenn & Stecker Investigates Acuity Brands, Inc.
January 16 2020 - 9:00AM
Business Wire
Shuman Glenn & Stecker announces that it is investigating
potential shareholder claims against certain officers and directors
of Acuity Brands, Inc. (“Acuity” or the “Company”) (NYSE: AYI).
Acuity provides lighting products to commercial and residential
customers.
The Firm’s investigation relates to allegations raised in a
class action complaint filed against the Company and certain of its
senior officers in the U.S. District Court for the Northern
District of Georgia. The lawsuit alleges that Acuity and certain of
the Company's senior executive officers violated the federal
securities laws by making a series of materially false and
misleading statements to shareholders about Acuity's ability to
maintain sales growth rates. The Company’s stock has fallen from a
high of more than $275 per share in August of 2016 to approximately
$121 per share as of the date of this release. The class action
lawsuit further alleges that three of Acuity’s senior executive
officers, including its CEO and President, sold approximately $50
million in Company stock prior to disclosing the truth regarding
Acuity’s current and future business prospects. On August 12, 2019,
the federal judge denied the defendants’ motion to dismiss the
class action lawsuit, in part, and is permitting claims against
Acuity and certain of its senior officers to proceed towards
trial.
If you currently own Acuity common stock and are interested in
discussing your rights, or have information relating to this
investigation, please contact Brett Stecker toll free at (866)
569-4531 or email Mr. Stecker at brett@shumanlawfirm.com.
Shuman Glenn & Stecker represents investors throughout the
nation, concentrating its practice in stockholder litigation.
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version on businesswire.com: https://www.businesswire.com/news/home/20200116005156/en/
SHUMAN GLENN & STECKER Brett D. Stecker, Esq. 326 West
Lancaster Ave., Suite 110 Ardmore, PA 19003 Tel: 866.569.4531 Fax:
303.536.7849 Email: brett@shumanlawfirm.com Web:
www.shumanlawfirm.com
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