The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of GreenSky, Inc. (GreenSky or the Company) (NASDAQ: GSKY) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. GreenSky lowered its full-year 2018 transaction volume guidance on November 6, 2018, from between $5.1 billion and $5.3 billion to between $4.9 billion and $5.1 billion. It also lowered its full-year adjusted EBITDA guidance from between $192 million and $199 million to between $165 and $175 million. The Company blamed a general shortage of labor and an unfavorable loan mix for the reduction. On this news, shares of GreenSky fell more than 36% on the same day.
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We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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