NEW YORK, June 20, 2018 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announces that a securities class action
lawsuit has been filed on behalf of those who purchased or acquired the securities of REV Group, Inc. (“REV” or the “Company”)
(NYSE:REVG) in connection with the Company’s January 27, 2017 initial public offering. The lawsuit seeks to recover REV
shareholders’ investment losses.
If you invested in REV securities, and lost money on the transactions, please visit our
REV SHAREHOLDER PAGE or contact Daniel Sadeh toll free at (877) 779-1414 or dsadeh@bernlieb.com.
According to the lawsuit, Defendants made false and/or misleading statements and/or failed to disclose that: (1)
REV was unable to use its “strong visibility into future net sales” to “effectively plan” and manage its backlog of vehicles; (2)
REV facilities were not operating efficiently or at a low cost to satisfy customer demand; and (3) as a result, Defendants’ public
statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims
that investors suffered damages.
On June 6, 2018, during aftermarket hours, REV disclosed that: (1) the Company’s 2Q18 adjusted EPS was
approximately 33% below consensus expectations; and (2) the Company was cutting its fiscal year 2018 net income guidance by 15%.
REV attributed the shortfall to “cost inflation,” the unavailability of chassis, and “lower-than-expected sales of certain
higher-content product categories including custom fire apparatus, large commercial buses, and Class A RVs.” REV’s stock fell
20% after these disclosures.
If you wish to serve as lead plaintiff, you must move the Court no later than August 7, 2018. A lead plaintiff
is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any
recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class
member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing
individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor
their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions,
the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal
500 for ten consecutive years.
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ATTORNEY ADVERTISING. © 2018 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
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
dsadeh@bernlieb.com
