Evoqua investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, Evoqua purports to be a leading provider of mission critical water treatment solutions, offering services, systems and technologies to support its customers’ full water lifecycle needs. With over 200,000 installations worldwide, Evoqua holds leading positions in the industrial, commercial and municipal water treatment markets in North America. Evoqua offers a portfolio of differentiated, proprietary technology solutions sold under a number of brands. Evoqua claims that the customer intimacy created through its service network is a significant competitive advantage.
The Class Period commences November 6, 2017, the date of the completion of Evoqua’s initial public offering (“IPO”). In the IPO prospectus, filed with the SEC on November 2, 2017 and part of its IPO registration statement, Evoqua touted its “[e]xperienced management team with proven operational capabilities” as one of its strengths.
According to the complaint, on October 30, 2018, Evoqua announced disappointing preliminary financial results for the fourth quarter and fiscal year ended September 30, 2018. Evoqua said the shortfalls are “primarily due to acquisition system integration issues, supply chain disruptions influenced by tariffs and an extended delay on a large aquatics project.”
Following this news, Evoqua’s stock price fell $4.78 per share, or 34.64%, to close at $9.02 on October 30, 2018. The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (i) Evoqua failed to successfully integrate its prior acquisitions; (ii) Evoqua was experiencing supply chain disruptions influenced by tariffs and an extended delay on a large aquatics project; and (iii) as a result of the foregoing, Evoqua’s public statements were materially false and misleading at all relevant times.
If you are a member of the class described above, you may no later than January 7, 2019 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Returning any form or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of the class member's choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.
Kessler Topaz Meltzer & Check, LLP
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