Brower Piven Alerts Shareholders of Upcoming Deadline in Class Action Lawsuit & Encourages Those with Substantial Losses from...
August 13 2016 - 6:00AM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Northern
District of Illinois on behalf of purchasers of Stericycle, Inc.
(NASDAQ: SRCL; SRCLP) (“Stericycle” or the “Company”) publicly
traded securities between February 7, 2013 and April 28, 2016,
inclusive (the “Class Period) and all those who purchased
securities in Stericycle’s public offering of depositary shares on
or about September 15, 2015. Investors who wish to become
proactively involved in the litigation have until September 12,
2016 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Stericycle. Members of the Class will be represented
by the lead plaintiff and counsel chosen by the lead plaintiff. No
class has yet been certified in the above action.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 and the Securities Act of 1933 by
virtue of the defendants’ failure to disclose in connection
with the Company’s public offering and during the Class Period that
Stericycle engaged in a systematic scheme whereby it routinely and
systematically raised the rates it charged its smaller customers in
violation of the contracts it had with those customers, thus
inflating revenues and growth.
According to the complaint, following the October 22, 2015
Company disclosure of (1) disappointing growth rates and revenues
during the third quarter of 2015 and lowered guidance going
forward, and (2) the April 28, 2016 Company disclosure that
its first quarter of 2016 results were below its guidance and
analysts’ expectations and that it was lowering its 2016 guidance
going forward, the value of Stericycle shares declined
significantly.
If you have suffered a loss in excess of $100,000 from
investment in Stericycle securities and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Brower Piven also encourages anyone with information
regarding the Company’s conduct during the period in question to
contact the firm, including whistleblowers, former employees,
shareholders and others.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160813005001/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
Stericycle (NASDAQ:SRCL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Stericycle (NASDAQ:SRCL)
Historical Stock Chart
From Apr 2023 to Apr 2024