Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired common stock and/or depositary shares of Stericycle, Inc. (“Stericycle”) (NASDAQ: SRCL and SRCLP) between February 7, 2013 and April 28, 2016, inclusive (the “Class Period”) and all those who purchased securities in Stericycle’s public offering of 7,700,000 depositary shares on or around September 15, 2015, which included 700,000 shares sold pursuant to an overallotment option granted to the offering’s underwriters.
According to the complaint, Stericycle’s primary business is as an international waste management and disposal company that specializes in collecting and disposing regulated waste, including medical, pharmaceutical, and hazardous waste.
The complaint alleges that during the Class Period, Stericycle and certain defendants issued false and misleading press releases, financial statements, filings with the SEC, and statements during investor conference calls.
The Class Period begins on February 7, 2013, the first trading day after Stericycle released its financial results for the fourth quarter and full year of 2012 in a press release and held a conference call to discuss those results.
According to the complaint, on October 22, 2015, Stericycle released disappointing financial results for the third quarter of 2015, lowered its 2015 adjusted and cash EPS guidance by 5.7% and 4.3% respectively, and issued 2016 guidance that was below analyst expectations. Following this news, the company’s common stock price declined 19% for a total market capitalization loss of over $2.4 billion. Its depository shares fell 13% for an aggregate loss of over $106 million.
Then, on April 28, 2016, Stericycle disclosed disappointing financial results for the first quarter of 2016 and lowered its 2016 adjusted EPS guidance to $4.90 - $5.05 from $5.26 - $5.33. Following this news, the company’s stock price declined a 21.5% for an additional market capitalization loss of over $2.2 billion. Stericycle’s depositary shares fell 15.4% for an additional aggregate loss of over $108 million.
If you are a member of the class described above, you may no later than September 12, 2016 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. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. 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 toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at firstname.lastname@example.org. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at email@example.com