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Acuity Brands, Inc. (AYI)

NYSE:AYI

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Acuity Brands, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Acuity Brands, Inc. (“Acuity” or the “Company”) (NYSE:AYI) of the March 5, 2018 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 Acuity stock or options between October 15, 2015 and April 3, 2017 and would like to discuss your legal rights, please fill out the form below.  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 District of Delaware on behalf of all those who purchased Acuity securities between October 15, 2015 and April 3, 2017 (the “Class Period”).  The case, Gray v. Acuity Brands, Inc. et al, No. 1:18-cv-00285 was filed on February 20, 2018.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by concealing known trends negatively impacting sales of the Company’s products and overstating the Company’s ability to achieve profitable sales growth.

Specifically, on June 29, 2016, the company issued a press release to report its financial and operational results for the third quarter fiscal 2016. In a subsequent earnings call, the CEO, Vernon J. Nagel, claimed, in part, that the company expected to continue beating growth rates in the markets the company serves, as reflected in the Company’s order rates through the month of June 2016 reflected. However, in the reports for the fourth quarter and fiscal year of 2016, for the first quarter of 2017, and for the second quarter of 2017, dated on October 5, 2016, on January 9, 2017, and April 4, 2017, respectively, the Company reported declining revenues, disappointing sales growth, and overall lower results than what was indicated on the June 29, 2016 report and earnings call.

After each of the three reports, the Company’s stock price declined.

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  • Case:
    Acuity Brands, Inc. (AYI)
  •    

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Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 01/04/2018

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