The Law Offices of Frank R. Cruz Announces Investigation of GFL Environmental Inc. (GFL) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of GFL Environmental Inc. ("GFL" or the "Company") (NYSE: GFL) investors concerning the Company’s possible violations of federal securities laws.

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In March 2020, GFL completed its initial public offering (“IPO”), in which it sold 75 million shares at $19.00 per share.

On August 18, 2020, Spruce Point Management published a report alleging, among other things, that GFL’s Chief Executive Officer Patrick Dovigi "obfuscated connections to what some observers have dubbed 'organized crime'." The report also alleged that "GFL's leverage is understated by aggressive reporting of revenue and EBITDA, and free cash flow burn is understated by ~60%," asserting that "this is evidenced by financial restatements without explanation, and by minimizing a material weaknesses of financial controls."

On this news, GFL's stock price fell $1.75 per share, or 8%, to close at $19.48 per share on August 18, 2020, thereby injuring investors.

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If you purchased GFL securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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