NEW YORK, April 17, 2019 /PRNewswire/ -- Bernstein
Liebhard LLP announced today that a class action has been filed in
the United States District Court
for the Eastern District of Pennsylvania on behalf of all persons or
entities (the "Class") who purchased the common stock of
BrightView, Inc. ("BrightView" or the "Company") (NYSE: BV)
pursuant to or traceable to the IPO. The complaint alleges
that Defendants violated the Securities Act of 1933.
BrightView is a Pennsylvania-based company that provides
commercial landscaping services across the United States. The
complaint alleges that Defendants made materially false and/or
misleading statements in the Offering Documents relating to the
IPO, including failing to disclose that: (i) a material portion of
BrightView's contracts were underperforming and/or represented
undesirable costs to the Company; (ii) as a result of the
foregoing, BrightView would implement a "managed exit" strategy to
end its low margin and non-profitable contracts with customers;
(iii) this "managed exit" strategy would negatively impact
BrightView's future revenue throughout 2018, and would continue to
do so well into fiscal year 2019; and (iv) as a result, the
Offering Documents were materially false and/or misleading and
failed to state information required to be stated therein.
Plaintiff seeks to recover damages on behalf of all Class
members who invested in BrightView common stock in connection with
the IPO. If you invested in BrightView common stock as
described above, and lost money on the transactions, you may wish
to join in this action to serve as lead plaintiff. In order
to do so, you must meet certain requirements set forth in the
applicable law and file appropriate papers no later than
June 14, 2019.
A "lead plaintiff" is a representative party that acts on behalf
of other class members in directing the litigation. In order
to be appointed lead plaintiff, the court must determine that the
class member's claim is typical of the claims of other class
members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members
may together serve as lead plaintiff. Your ability to share
in any recovery is not, however, affected by the decision whether
or not to serve as a lead plaintiff. You may retain Bernstein
Liebhard LLP, or other counsel of your choice, to serve as your
counsel in this action.
If you are interested in discussing your rights as a BrightView
investor or have information relating to the matter, please
contact Joseph R. Seidman,
Jr. at (877) 779-1414
or seidman@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds
of securities, consumer and shareholder
rights cases and recovered over $3.5 billion for its clients. The Firm
has been named to The National Law
Journal's "Plaintiffs' Hot List" thirteen times and been
listed in The Legal 500 for ten consecutive years.
You can obtain a copy of the complaint by contacting the clerk
of the United District Court for the Eastern District of
Pennsylvania.
ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Joe Seidman
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
seidman@bernlieb.com
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