SAN DIEGO, Jan. 16, 2020 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential
claims on behalf of Acuity Brands, Inc. ("Acuity" or the "Company")
(NYSE: AYI) against certain of its officers and
directors.
In 2018, a class-action lawsuit was filed in federal court
against Acuity on behalf of purchasers of the securities of Acuity
from June 29, 2016, and April 3, 2017 (the "Class Period"). The
defendants moved to dismiss the case, which the court denied in
part on August 12, 2019.
The complaint alleges that during the Class Period, the
defendants: (i) concealed known trends negatively impacting sales
of the Company's products; and (ii) overstated the Company's
ability to achieve profitable sales growth. As a result of
the foregoing, the defendants lacked a reasonable basis for their
positive statements about Acuity's current and future business and
financial prospects.
The class-action lawsuit further alleges that three of Acuity's
senior executive officers, including its CEO and President, sold
approximately $50 million in Company
stock before disclosing the truth regarding Acuity's current and
future business prospects.
If you are a current, long-term shareholder of Acuity,
holding shares before June 29,
2016, you may have standing to hold Acuity harmless
from the alleged harm caused by the officers and directors of the
Company by making them personally responsible. You may also be able
to assist in reforming the Company's corporate governance to
prevent future wrongdoing.
If you are interested in learning more about the
investigation, please contact lead analyst
Jim Baker
(jimb@johnsonfistel.com) at 619-814-4471. If emailing, please
include a phone number.
Additionally, you can [Click here to join this action]]. There
is no cost or obligation to you.
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.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
[Click here to join this action]
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SOURCE Johnson Fistel, LLP