| 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 6, 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. This is a federal securities class action brought on behalf of all investors who purchased or acquired Evoqua common stock between November 1, 2017 and October 30, 2018, both dates inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, the complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (1) Evoqua failed to successfully integrate its prior acquisitions; (2) Evoqua was experiencing supply chain disruptions influenced by tariffs and an extended delay on a large aquatics project; and (3) as a result of the foregoing, Evoqua’s public statements were materially false and misleading at all relevant times.
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.
Please be advised that the deadline to file a claim was December 3, 2021. You may find additional information regarding the terms of the settlement and claim filing process at www.evoquasecuritieslitigation.com, or by calling Claims Admin A.B. Data, Ltd at (855) 569-5890.
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.