NEW YORK--(BUSINESS WIRE)--The Klein Law Firm announces the commencement of an investigation of Acuity Brands, Inc. (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. 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.” 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.
If you suffered a loss in Acuity and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kkclasslaw.com/AYI-Info-Request-Form-254.
Joseph Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.