Robbins Geller Rudman & Dowd LLP announces that purchasers of Vertiv Holdings Co (NYSE: VRT) securities between April 28, 2021 and February 23, 2022, inclusive (the “Class Period”) have until May 23, 2022 to seek appointment as lead plaintiff in Vinings v. Vertiv Holdings Co, No. 22-cv-02416 (S.D.N.Y.). The Vertiv class action lawsuit charges Vertiv as well as certain of its top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered significant losses and wish to serve as lead plaintiff of the Vertiv class action lawsuit, please provide your information by clicking here. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at firstname.lastname@example.org. Lead plaintiff motions for the Vertiv class action lawsuit must be filed with the court no later than May 23, 2022.
CASE ALLEGATIONS: Vertiv purports to be a “global leader in the design, manufacturing and servicing of critical digital infrastructure technology that powers, cools, deploys, secures and maintains electronics that process, store and transmit data.”
The Vertiv class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Vertiv could not adequately respond to supply chain issues and inflation by increasing its prices; (ii) as a result of the increasing costs, Vertiv’s earnings would be adversely impacted; and (iii) consequently, defendants’ positive statements about Vertiv’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On February 23, 2022, Vertiv reported disappointing financial results, including $0.06 earnings per share for fourth quarter 2021, missing analyst estimates of $0.28 per share. Vertiv’s Chief Executive Officer attributed the poor results to management “consistently underestimat[ing] inflation and supply chain constraints for both timing and degree, which dictated a tepid 2021 pricing response.” On this news, the price of Vertiv stock declined by approximately 37%, damaging investors.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Vertiv securities during the Class Period to seek appointment as lead plaintiff in the Vertiv class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone – more than triple the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 9 offices, Robbins Geller’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit http://www.rgrdlaw.com for more information.
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Robbins Geller Rudman & Dowd LLP
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J.C. Sanchez, 800-449-4900