NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces it has commenced an investigation of Acuity Brands, Inc. (“Acuity” or the “Company”) (NYSE: AYI) concerning possible violations of federal securities laws.
On October 5, 2016, Acuity announced disappointing financial and operating results for the Company’s fourth quarter and fiscal year 2016, citing “uncertainty and volatility” associated with the U.S. presidential election and the U.K.’s referendum vote to exit the European Union. On this news, Acuity's share price fell 4.7% to close at $242.99 on October 5, 2016. Then on January 9, 2017, Acuity announced financial and operating results for the first quarter of the Company’s fiscal year 2017, advising investors of lower-than-expected sales, which the Company attributed to weaker customer demand |apparently due to...election jitters.” On this news, Acuity’s share price fell 14.7% to close at $202.51 on January 9, 2017. Then on April 4, 2017, Acuity reported financial and operating results for the second quarter of the Company’s fiscal year 2017, continuing to blame “the impact of continued softness in demand for certain short cycle, small lighting projects,” but acknowledging for the first time that demand softness “could potentially linger into the second half of 2017.” On this news, Acuity’s share price fell 14.8% to close at $173.93 on April 4, 2017. To obtain additional information, go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.