Former California Deputy Attorney General and Special Counsel with Johnson Fistel Launches Investigation into HD Supply Holdings, Inc.; Long Term Investors Encouraged to Contact Firm

News provided by

Apr 18, 2019, 09:03 ET

SAN DIEGO, April 18, 2019 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP with the assistance of former California Deputy Attorney General and Special Counsel, Tiffany Johnson, Esq., is investigating potential claims against HD Supply Holdings, Inc. (NASDAQ: HDS) ("HD Supply") for violations of federal securities laws.

A securities class action lawsuit was filed on behalf of purchasers of the securities of HD Supply from November 9, 2016 through June 5, 2017, (the "Class Period"). The complaint alleges that defendants during the Class Period made false and misleading statements and/or failed to disclose that: (1) HD Supply's full year 2017 growth and operational leverage targets were unattainable; (2) the operational recovery of its Facilities Maintenance supply chain was not going according to plan; (3) HD Supply was exploring the sale of its Waterworks segment; (4) Defendant Joseph DeAngelo, with full knowledge of the undisclosed materially adverse facts alleged herein, embarked on a selling spree of personal holdings of HD Supply stock that netted him over $54 million in proceeds; and (5) as a result of the foregoing, Defendants' statements about HD Supply's business, operations, and prospects were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. The federal court presiding over the litigation denied defendants' motion to dismiss the class action complaint, paving the way for litigation to proceed against HD Supply and certain executive officer defendants.

If you are a long-term shareholder of HD Supply continuously holding shares before November 9, 2016, you may have standing to hold HD Supply 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 your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If you email, please include your 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
[email protected]

[click here to join this action]

SOURCE Johnson Fistel, LLP