LOS ANGELES, April 18, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Aerojet Rocketdyne Holdings, Inc. (“Aerojet” or “the Company”) (NYSE: AJRD) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Spruce Point Management published a report on April 9, 2019, containing multiple allegations, including that the Company “is facing fundamental pressures, masked by complicated and aggressive accounting, which gives investors a potentially misleading impression of stability and growth.” The report also alleged, “~$900M of liabilities associated with the business [makes] the Company 5x more levered than it appears” and that “analysts blindly pencil in 4% revenue growth in the next two years, despite hundreds of millions of dollars in revenue programs that are disappearing.” Following the publication of the Spruce Point report, Aerojet’s share price fell sharply in intraday trading on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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CONTACT:
The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
310-301-3335
Cell: 424-303-1964
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