NEW YORK, Feb. 06, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating
potential claims against Revolution Lighting Technologies, Inc. ("Revolution Lighting" or "the Company") (NASDAQ: RVLT). Such
investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/rvlt.
The investigation concerns whether Revolution Lighting and certain of its officers and/or directors have violated federal
securities laws.
On October 17, 2018, Revolution Lighting reported preliminary financial results for third quarter 2018 with revenue expected to
be $33 million, compared to guidance of $40-$41 million. The Company also announced that its Chief Executive Officer, Robert V.
LaPenta, offered to acquire all of the common stock of the Company for a price of $2.00 per share. On this news, Revolution
Lighting’s stock price fell $0.98 per share, or over 38%, to close at $1.58 per share on October 17, 2018. On October 19, 2018,
Revolution Lighting disclosed “an ongoing investigation by the SEC regarding certain revenue recognition practices, including bill
and hold transactions that occurred between 2014 through the second quarter of 2018.” On this news, Revolution Lighting’s stock
price fell $0.16 per share, or over 10%, to close at $1.43 per share on October 22, 2018. Then, on November 14, 2018, Revolution
Lighting announced that its Transaction Committee was considering an updated proposal from LaPenta to acquire all of the Company’s
outstanding stock for $1.50 per share, referring in part to the SEC investigation as part of the reason Mr. La Penta wished to take
the Company private. Following this news, the Company’s stock price fell $0.55 per share, or nearly 40%, to close at $0.85 per
share on November 15, 2018.
If you are aware of any facts relating to this investigation, or purchased Revolution Lighting shares, you can assist this
investigation by visiting the firm’s site: www.bgandg.com/rvlt. You can also contact Peretz Bronstein or his Investor Relations Analyst,
Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action
security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration.
Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
