Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Evoqua Water Technologies (NYSE:AQUA) in connection to alleged violations of securities laws by AQUA. Fitapelli Kurta is interested in speaking to investors who have complaints regarding investments made in Evoqua Water Technologies between November 6, 2017 and October 30, 2018.
The class action complaint specifically alleges that during the period in question, AQUA might have provided false and/or misleading material information, and/or failed to disclose adverse material information, chiefly: that the company had failed to integrate entities it had previously acquired; that tariffs and a lengthy delay on a certain substantial project had resulted in disruptions to the company’s supply chain; and that consequently the company’s statements to the public during the relevant period were false and misleading. The complaint alleges that when true facts came to light, investors suffered losses: When the company announced on October 30, 2018 that it had experienced negative financial results for Q4 2018 and the fiscal year ending September 30, 2018, and that these results were “primarily due to acquisition system integration issues, supply chain disruptions influenced by tariffs and an extended delay on a large aquatics project,” the company’s share price declined $4.78/share, or more than 34%, closing at $9.02/share on October 30, 2018.
According to the company’s website, Evoqua Water Technologies is a natural resources technology company that describes itself as “the global leader in helping municipalities and industrial customers protect and improve the world’s most fundamental natural resource: water.” The description goes on to state that Evoqua boasts a “100-ear heritage of innovation and industry firsts,” and that the company provides effective and reliable systems for the treatment of water that enable its customers to achieve regulatory and environmental compliance, among other benefits. The company trades on the New York Stock Exchange under the symbol AQUA.
A class action lawsuit has already been filed in connection with Evoqua Water Technologies. If you wish to serve as lead plaintiff in the AQUA lawsuit, you must move the Court no later than January 7, 2019. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.