Glancy Prongay & Murray LLP (GPM) announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired Evoqua Water Technologies Corp. (Evoqua or the Company) (NYSE: AQUA) securities between November 6, 2017 and October 30, 2018, inclusive (the Class Period). Evoqua investors have until January 7, 2019 to file a lead plaintiff motion.
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On October 30, 2018, Evoqua announced poor preliminary financial results for the fourth quarter and fiscal year ended September 30, 2018. Evoqua disclosed that the underperformances were “primarily due to acquisition system integration issues, supply chain disruptions influenced by tariffs and an extended delay on a large aquatics project.” On this news, shares of Evoqua fell $4.78 per share, or 34.64%, to close at $9.02 on October 30, 2018, thereby injuring investors.
The complaint filed in this class action 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, Evoquas public statements were materially false and misleading at all relevant times.
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If you purchased shares of Evoqua during the Class Period you may move the Court no later than January 7, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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