RADNOR, Pa.--(BUSINESS WIRE)--Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against REV Group, Inc. (NYSE:REVG) (“REV Group” or the “Company”) on behalf of investors who purchased or acquired REV Group’s common stock pursuant and/or traceable to the Company’s initial public offering (“IPO”) of stock on or about January 27, 2017.
IMPORTANT SHAREHOLDER DEADLINE: Investors who purchased REV Group common stock pursuant and/or traceable to the Company’s IPO may, no later than August 7, 2018, petition to be appointed as a lead plaintiff representative of the investor class. REV Group investors are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740, or via www.kaskelalaw.com/cases/rev, for additional information about this action and/or to discuss their legal rights and options.
On or about January 27, 2017, the Company completed its IPO of common stock by selling 12.5 million shares of stock at $22 per share, for proceeds of approximately $275 million.
The shareholder class action complaint alleges that REV Group made false and misleading statements and/or failed to disclose adverse facts to investors, including that: (i) REV Group was unable to use its “strong visibility into future net sales” to “effectively plan” and manage its backlog of vehicles; and (ii) REV Group facilities were not operating efficiently or at a low cost to satisfy customer demand. The shareholder class action complaint further alleges that, as a result of the foregoing, investors purchased REV Group’s common stock at artificially inflated prices and suffered significant investment losses.
REV Group investors are encouraged to contact Kaskela Law LLC to discuss their legal rights and options with respect to this action. Kaskela Law LLC exclusively represents investors in state and federal courts throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.