GFL EQUITY ALERT: ROSEN, TOP RANKED GLOBAL COUNSEL, Announces Investigation of Securities Claims Against GFL Environmental Inc. – GFL

NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of GFL Environmental Inc. (NYSE: GFL) resulting from allegations that GFL may have issued materially misleading business information to the investing public.

On August 18, 2020, a report published by Spruce Point Management revealed evidence of a number of suspicious business practices. The Spruce Point report revealed that there was “evidence that through his real estate holding company PJD Properties, [CEO Patrick Dovigi] leases office space to GFL,” which was “not properly disclosed to investors.” The report further alleges evidence of aggressive accounting techniques, including “restat[ing] both revenue and EBITDA, without explanation, by pulling from ‘intercompany’ revenues” which is indicative of financial issues being minimized by the Company. Furthermore, the report revealed that two “independent” directors were actually hiding the fact that they were being paid by BC Partners, GFL’s largest control shareholder.

On this news, the price of GFL share dropped from a high of $20.30 to close at $19.48 on August 18, 2020 on unusually high trading volume. The next day, the stock prices continued to tumble and closed on August 19, 2020 at $18.41.

Rosen Law Firm is preparing a securities lawsuit on behalf of GFL shareholders. If you purchased securities of GFL please visit the firm’s website at http://www.rosenlegal.com/cases-register-1930.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at [e-mail] or [e-mail].

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

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. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.