Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) resulting from allegations that Aeroject may have issued materially misleading business information to the investing public.
On April 9, 2019, Spruce Point Management (Spruce Point) published a report alleging that Aerojet is facing fundamental pressures, masked by complicated and aggressive accounting, which gives investors a potentially misleading impression of stability and growth. Among other issues, Spruce Point asserted that ~$900M of liabilities associated with the business [makes] the Company 5x more levered than it appears and that analysts blindly pencil in 4% revenue growth in the next two years, despite hundreds of millions of dollars in revenue programs that are disappearing. Following publication of the Spruce Point report, Aerojets stock price fell sharply during intraday trading on April 9, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Aerojet investors. If you purchased shares of Aerojet please visit the firms website at http://www.rosenlegal.com/cases-register-1551.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
Madison Avenue, 34th Floor
New York, NY 10016
Toll Free: (866) 767-3653
Fax: (212) 202-3827