||Evoqua Water Technologies Corp.
||United States District Court for the Southern District of New York
||The Hon. John Peter Cronan
||Between November 1, 2017 and October 30, 2018
On November 06, 2018, the initial complaint in this securities class action was filed against Evoqua Water Technologies Corp. (“Evoqua” or the “Company”), and certain of Evoqua’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act.
The complaint alleged that throughout the class period, the defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the complaint alleged that 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.
This is a securities class action brought on behalf of those who purchased or acquired Evoqua common stock between November 1, 2017 and October 30, 2018, inclusive.
Current Status of Case:
The lead plaintiff filed a consolidated complaint on April 3, 2019. The defendants filed a motion to dismiss the consolidated complaint on June 26, 2019. On March 30, 2020, the Court granted in part and denied in part the defendants’ motion to dismiss, thereby allowing certain claims to proceed. The parties are currently in the discovery phase of the litigation. The parties are currently in the discovery phase of the litigation. This action is still ongoing.
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Kessler Topaz Meltzer & Check, LLP
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