Case Page

 

Case Status:    ONGOING    
On or around 10/31/2016 (Ongoing date of last review)

Filing Date: July 11, 2016

According to the law firm press release, Stericycle is an international waste management and disposal company that specializes in the collection and disposal of regulated and specialized waste. The Complaint alleges throughout the Class Period, Stericycle engaged in a systematic scheme whereby it routinely and systematically raised the rates it charged its smaller customers in violation of the contracts it had with those customers. By doing so, Stericycle artificially inflated its revenues and growth. Defendants did not disclose this practice and, as a result, Stericycle routinely misrepresented its performance and earnings.

On October 22, 2015, Stericycle disclosed disappointing growth rates and revenues during the third quarter of 2015 and lowered its guidance going forward. These disclosures caused Stericycle's stock to decline by over 19%. On April 28, 2016, Stericycle disclosed that its results for the first quarter of 2016 were below its guidance and analysts' expectations, and lowered its 2016 guidance going forward. These disclosures caused Stericycle's stock to decline by over 21.5%.

An amended complaint was filed on October 21, 2016.

On October 31, 2016, the Court appointed Lead Plaintiffs and Counsel.

COMPANY INFORMATION:

Sector: Services
Industry: Waste Management Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SRCL
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. Illinois
DOCKET #: 16-CV-07145
JUDGE: Hon. Andrea R. Wood
DATE FILED: 07/11/2016
CLASS PERIOD START: 02/07/2013
CLASS PERIOD END: 04/28/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP
    2835 N. Sheffield Avenue, Suite 409, Bernstein Litowitz Berger & Grossmann LLP, IL 60657
    773-883-5382 ·
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