LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding
$50,000 In Revolution Lighting Technologies, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Revolution Lighting Technologies, Inc.
(“Revolution Lighting” or the “Company”) (NASDAQ:RVLT) of the April 1, 2019 deadline to seek the role of lead plaintiff in a
federal securities class action that has been filed against the Company.
If you invested in Revolution Lighting stock or options between March 14, 2014 and November 14, 2018 and would like to
discuss your legal rights, click here:
www.faruqilaw.com/RVLT. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to rgonnello@faruqilaw.com.
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased
Revolution Lighting securities between March 14, 2014 and November 14, 2018 (the “Class Period”). The case, Glavan v. Revolution
Lighting Technologies, Inc. et al., No. 19-cv-00980 was filed on January 31, 2019 and has been assigned to Judge James Paul
Oetken.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading
statements and/or failing to disclose: (1) that the Company was improperly recognizing revenue for certain transactions; (2) that,
as a result, the Company’s financial statements were misstated; (3) that the Company lacked adequate internal controls over
financial reporting; (4) that, as a result, Company would be subject to regulatory scrutiny and incur substantial costs; and (5)
that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects and
prospects were materially misleading and/or lacked a reasonable basis.
Specifically, on October 17, 2018, the Company reported preliminary financial results for third quarter 2018 with revenue
expected to be $33 million, compared to previously-announced guidance of $40-$41 million. The Company also announced that its CEO
had offered to acquire all of the common stock of the Company for a price of $2.00 per share.
On this news, the Company's stock price fell from $2.56 per share on October 16, 2018 to $1.58 per share on October 17, 2018--a
$0.98 or 38.28% drop.
Then, on October 19, 2018, the Company 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, the Company's stock price fell from $1.59 per share on October 19, 2018 to $1.43 per share on October 22, 2018--a
$0.16 or 10.04% drop.
Then, on November 13, 2018, the Company filed a Notice of Late Filing on Form 12b25 with the SEC. Therein, the Company stated
that it was unable to file its quarterly report for the period ended September 30, 2018 due to a review by the Company’s Audit
Committee of the previously filed financial statements, and the Company provided detail regarding the incorrect recognition of
revenue.
On this news, the Company's stock price fell from $1.40 per share on November 14, 2018 to $0.85 per share on November 15,
2018--a $0.55 or 39.29% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is
adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff
or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Revolution Lighting’s conduct to contact the firm,
including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to
discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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