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Case Status:    DISMISSED    
On or around 06/07/2019 (Notice of voluntarily dismissal)

Filing Date: April 11, 2019

According to the Complaint, BrightView provides commercial landscaping services in the United States and
operates through two segments - Maintenance Services and Development Services.

On or around July 2, 2018, BrightView completed its IPO, in which the Company issued and sold 24,495,000 shares of common stock at an offering price of $22.00 per share, generating net proceeds of approximately $501.2 million after deducting underwriting discounts and commissions and other offering expenses. The shares sold in the offering were registered under the Securities Act pursuant to the Registration Statement, which was declared effective by the SEC on June 27, 2018.

The Complaint alleges that the Registration Statement contained false and/or misleading statements and/or failed to disclose that: (1) a material portion of BrightView’s contracts were underperforming and/or represented undesirable costs to the Company; (2) as a result of the foregoing, BrightView would implement a “managed exit” strategy to end its low margin and non-profitable contracts with customers; (3) this “managed exit” strategy would negatively impact BrightView’s future revenue throughout 2018, and would continue to do so well into fiscal year 2019; and (4) as a result of the foregoing, Defendants’ positive statements in the Registration Statement about BrightView’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

This case was voluntarily dismissed on June 7, 2019.

COMPANY INFORMATION:

Sector: Services
Industry: Business Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BV
Company Market: New York SE
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: E.D. Pennsylvania
DOCKET #: 19-CV-01610
JUDGE: Hon. Gerald A. McHugh
DATE FILED: 04/11/2019
CLASS PERIOD START: 06/29/2018
CLASS PERIOD END: 07/02/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  2. The Rosen Law Firm, P.A. (Jenkintown)
    101 Greenwood Avenue Suite 203 , The Rosen Law Firm, P.A. (Jenkintown), PA 19046
    215-600-2817 ·
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available