Apogee Enterprises, Inc. (APOG)


Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Apogee Enterprises, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Apogee Enterprises, Inc.  (“Apogee” or the “Company”) (NASDAQ: APOG) of the January 4, 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 Apogee stock or options between June 28, 2018 and September 17, 2018 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 Minnesota on behalf of all those who purchased Apogee securities between June 28, 2018 and September 17, 2018 (the “Class Period”).  The case, Mayer v. Apogee Enterprises, Inc., No. 18-cv-03097 was filed on November 5, 2018.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making materially false and/or misleading statements and/or failed to disclose that: (i) Apogee lacked the required labor force in place to ramp-up its production; (ii) Apogee was unable to hire, train and retain new employees; (iii) Apogee’s productivity and margins would be negatively impacted; and (iv) as a result of the foregoing, the Company’s statements about the Company’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

Specifically, on September 18, 2018, Apogee issued a press release, also attached as exhibit 99.1 to the Form 8-K filed with the SEC announcing the Company’s financial and operating results for the second fiscal quarter and six month ended September 1, 2018 (“Q2 2018 Press Release”).  During a conference call to discuss the Company’s financial and operating results for the second fiscal quarter and six month ended September 1, 2018 (“Q2 2018 Conf. Call”), Apogee’s chief executive officer, Puishys ultimately admitted that (i) Apogee was never ready to ramp up production and meet the previously announced growth and margins, (ii) The Company was aware of the labor market trends (iii) The Company failed to action any action to overcome said trends.

After the announcement, Apogee’s share price fell from $48.22 per share on September 17, 2018 to a closing price of $41.76 on September 19, 2018—a $6.46 or a 13.40% drop.

 

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Apogee Enterprises, Inc. (APOG)

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Details

Filed on 11/05/2018

Ticker NASDAQ:APOG

Office

685 Third Avenue 26th Floor

10017 New York, New York

Phone (212) 983-9330

Fax (212) 983-9331

Counsel

Richard W. Gonnello rgonnello@faruqilaw.com Phone (212) 983-9330 Fax (212) 983-9331

Finding us

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Our offices are nationwide. If you have any questions about a case or our firm, please contact us.

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685 Third Avenue 26th Floor
New York, New York 10017
(212) 983-9330
(877) 247-4292
(212) 983-9331

California

10866 Wilshire Boulevard Suite 1470
Los Angeles, California 90024
(424) 256-2884
(424) 256-2885

Delaware

3828 Kennett Pike Suite 201
Wilmington, Delaware 19807
(302) 482-3182
(302) 482-3612

Georgia

3975 Roswell Rd Suite A
Atlanta, Georgia 30342
(404) 847-0617
(404) 506-9534

Pennsylvania

1617 JFK Boulevard, Suite 1550
Philadelphia, Pennsylvania 19103
(215) 277-5770
(215) 277-5771

Faruqi & Faruqi office in New York, New York

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