Company: Evoqua Water Technology Corp.
Kaskela Law LLC announces that a class action lawsuit has been filed against Evoqua Water Technology Corp. (NYSE: AQUA) (“Evoqua” or the “Company”) on behalf of purchasers of the Company’s common stock between November 6, 2017 and October 30, 2018, inclusive (the “Class Period”).
On October 30, 2018, Evoqua announced preliminary financial results for the fourth quarter and fiscal year ended September 30, 2018, which fell below the Company’s and analyst’s expectations. Therein, the Company disclosed that its financial shortfalls were “primarily due to acquisition system integration issues, supply chain disruptions influenced by tariffs and an extended delay on a large aquatics project.” Following this news, shares of Evoqua’s common stock fell $4.78 per share, or over 34%, to close on October 25, 2018 at $9.02 per share.
The class action complaint alleges that defendants made materially false and misleading statements during the Class Period, and failed to disclose to investors that: (i) Evoqua failed to successfully integrate its prior acquisitions; (ii) Evoqua was experiencing supply chain disruptions influenced by tariffs and an extended delay on a large aquatics project; and (iii) as a result of the foregoing, Evoqua’s public statements were materially false and misleading at all relevant times. The complaint further alleges that investors purchased Evoqua’s common stock at artificially inflated prices during the Class Period and suffered investment losses as a result of the defendants’ conduct.
Current Evoqua stockholders who purchased their shares prior to October 20, 2018 are encouraged to contact Kaskela Law LLC at (888) 715 – 1740, or by completing the information form on this page, to receive additional information about this action and/or to discuss their legal rights and options.