COMPANY |
Evoqua Water Technologies Corp. |
COURT |
United States District Court for the Southern District of New York |
CASE NUMBER |
18-cv-10320 |
JUDGE |
The Hon. John Peter Cronan |
CLASS PERIOD |
November 1, 2017 - October 30, 2018 |
SECURITY TYPE |
Common Stock |
Case Background:
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:
Lead Plaintiff filed a consolidated complaint (the “Complaint”) on April 3, 2019. Defendants filed a Motion to Dismiss the Complaint on June 26. On March 30, 2020, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. Fact discovery was scheduled to be completed by June 18, 2021 and expert discovery by October 8, 2021. On September 27, 2021, Lead Plaintiff’s Motion for Final Approval of Class Action Settlement was approved in the amount of $16,500,000.00.
This action has concluded.
This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@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.