NEW YORK, June 29, 2018 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of REV Group, Inc. ("REV" or the "Company") (NYSE: REVG). Investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether REV and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On June 6, 2018, post-market, REV issued a press release announcing its financial and operating results for the second quarter of 2018, announcing below-expectation results and citing "cost inflation" across many of the commodities and services the Company buys, the unavailability of chassis, and a negative impact on margins attributed to "lower-than-expected sales of certain higher-content product categories including custom fire apparatus, large commercial buses, and Class A RVs." REV also lowered its fiscal year 2018 guidance—predicting "[f]ull-year 2018 revenue of $2.4 to $2.6 billion" compared to "$2.4 to $2.7 billion" announced earlier, and "Net Income of $72 to $87 million" compared to "$90 to $110 million" announced earlier. That same day, REV disclosed that its Chief Operating Officer, Thomas B. Phillips, had been replaced by Ian Walsh, effective June 1, 2018. Following these disclosures, REV's share price fell $3.41, or 19.02%, to close at $14.52 on June 7, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
888-476-6529 Ext. 9980
SOURCE Pomerantz LLP