LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against HD Supply Holdings, Inc. (“HD Supply” or the “Company”) (Nasdaq: HDS) 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.
Investors who purchased the Company’s shares between November 9, 2016 and June 5, 2017, inclusive (the “Class Period”), are encouraged to contact the firm before September 11, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.goldberglawpc.com/, or by email at firstname.lastname@example.org.
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.
The Complaint alleges that during the Class Period, HD Supply violated federal securities laws by making materially false and misleading public statements, and/or failing to disclose material information, specifically: that the Company’s 2017 full year growth and operational leverage targets were unattainable; that the recovery of its Facilities Maintenance (“FM”) supply chain was not going as planned; that HD Supply was attempting to sell its Waterworks segment; and that the Company’s CEO Joseph J. DeAngelo, with full knowledge of the aforementioned undisclosed facts, embarked on a selling spree of personal shares of HD Supply stock that netted him over $54 million.
On June 6, 2017, the Company disclosed a plan to accelerate its investment spending in FM, and that the Company would be redeploying working capital into the business, causing it to lower its operational leverage targets. On the same day, HD Supply announced that it also entered into a definitive agreement to sell its Waterworks business segment. Premarket, on June 6, 2017, the Company held a conference call in which its executives revealed that HD Supply was “seeing pretty significant margin compression pressures”, and further disclosed that operating leverage at the Company’s FM segment may fall below previously forecasted levels. Following this news, HD Supply’s stock price dropped materially, which caused investors harm.
Goldberg Law PC represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
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