The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Acuity Brands, Inc. (NYSE: AYI) who purchased shares between October 15, 2015 and April 3, 2017. The action, which was filed in the United States District Court for the District of Delaware, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that (1) known trends were negatively impacting sales of Acuity’s products; (2) Acuity’s ability to achieve profitable sales growth was overstated; and (3) as a result, defendants’ positive statements about Acuity’s current and future business and financial prospects lacked a reasonable basis.
Shareholders have until March 5, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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