According to the Complaint, Revolution Lighting Technologies, Inc. purports to design and manufacture light-emitting diode (“LED”) lighting solutions for industrial, commercial, and government markets.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company was improperly recognizing revenue for certain transactions; (2) that, as a result, the Company’s financial statements were misstated; (3) that the Company lacked adequate internal controls over financial reporting; (4) that, as a result, the Company would be subject to regulatory scrutiny and incur substantial costs; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On July 29, 2019, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. All future docketing was ordered to be done in the lead case 19-CV-00980.

On March 18, 2020, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on April 10. On August 11, the Court granted final approval of the Settlement and entered Final Judgment. On March 29, 2022, the Court issued an Order approving distribution of the net Settlement fund.