REV Group (REVG) Alert: Johnson Fistel Announces Investigation of REV Group, Inc.; Encourages Investors to Contact the Firm for Additional Information
SAN DIEGO, June 6, 2018, /PRNewswire/
Johnson Fistel, LLP, is investigating potential violations of the federal securities laws by REV Group, Inc., (NYSE: REVG) (“REV Group “) and certain of its officers and directors. REV Group designs, manufactures and distributes specialty vehicles in the United States, Canada, Europe, Africa, the Middle East, and internationally.
On Wednesday, June 6, 2018, REV Group reported net sales in the second quarter of 2018 were $608.9 million. Adjusted net income for the second quarter 2018 was $15.6 million, or $0.24 per diluted share, a decline of 17.9% compared to $19.0 million, or $0.29 per diluted share, in the second quarter 2017. The results fell short of Wall Street expectations. Estimates were for net income of .35 cents per diluted share.
On or about January 17, 2017, REV Group sold 12,500,000 million shares of stock in its initial public stock offering (the “IPO”), at $22. Then in October 2017, a secondary offering of 10,000,000 shares of common stock by certain selling stockholders was sold at the public offering price of $27.25 per share. However, since the IPO and secondary offering, REV Group stock has imploded, on June 7, 2018, in early morning trading, the stock was trading below $13.
Specifically, Johnson Fistel’s investigation seeks to determine whether the REV Group may have issued materially misleading business information to the investing public.
If you have information that could assist in this investigation, or if you are a REV Group shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.