REVG class action investigation Levi & Korsinsky

Class Action News

REVG Class Action Investigation Commences

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June 7, 2018

Levi & Korsinsky announces it has commenced an investigation of REV Group, Inc. (“REV” or “the Company”) (NYSE: REVG) concerning possible violations of federal securities laws. On or about January 17, 2017, REV sold 12,500,000 million shares of stock in its initial public stock offering (the “IPO”) for $22 per share. Then in October 2017, a secondary offering of 10,000,000 shares of common stock by certain selling stockholders was sold at the public offering price of $27.25 per share. On June 6, 2018, REV reported net sales for the second quarter 2018 of $608.9 million. Adjusted net income for the second quarter 2018 was $15.6 million, a decline of 17.9 percent, compared to $19.0 million, or $0.29 per diluted share in the second quarter 2017. These results fell short of Wall Street expectations. Following this news, shares of REV were down more than 21% on intraday trading on June 7, 2018. To obtain additional information on the REV class action investigation (REVG class action investigation), go tohttp://www.zlk.com/pslra-d/rev-group-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.