GreenSky Class Action Lawsuit: Bernstein Liebhard LLP Announces That A Securities Class Action Lawsuit Has Been Filed Against GreenSky, Inc. - GSKY
NEW YORK, Dec. 5, 2018 /PRNewswire/ -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of those who purchased or acquired the securities of GreenSky, Inc. ("GreenSky" or the "Company") (NASDAQ: GSKY) pursuant or traceable to the Company's initial public offering ("IPO"), which closed on May 29, 2018. The lawsuit seeks to recover GreenSky shareholders' investment losses.
If you purchased GreenSky securities, and/or would like to discuss your legal rights and options, please visit GreenSky Shareholder Class Action Lawsuit or contact Daniel Sadeh toll free at (877) 779-1414 or [email protected].
According to the lawsuit, Defendants made false and misleading statements and omissions in the registration statement and prospectus for the Company's IPO (the "Offering Documents") and, in so doing, violated Sections 11, 12(a)(2), and 15 of the Securities Act of 1933. At the time of the IPO, GreenSky was well underway in executing a strategy of swift expansion into the elective healthcare sector while simultaneously reducing its portfolio of solar panel merchants. This shift precipitated a significant decline in the Company's largest source of revenue: transaction fees.
GreenSky charged its solar merchants high transaction fees but charged healthcare businesses substantially lower transaction fees. Defendants made false and misleading statements and omissions in the Offering Documents about the revenue effects of the change in the classes of merchants for whom it facilitated loans. When the truth was disclosed, GreenSky share prices dropped precipitously, and investors purchased shares pursuant or traceable to the IPO suffered harm.
If you wish to serve as lead plaintiff, you must move the Court no later than January 28, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased GreenSky securities, and/or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/greensky-inc-gsky-lawsuit-class-action-fraud-stock-100/ or contact Daniel Sadeh toll free at (877) 779-1414 or [email protected].
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. © 2018 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
[email protected]
SOURCE Bernstein Liebhard LLP
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