RADNOR, Pa., Nov. 05, 2018 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that a class action lawsuit has been filed against Apogee Enterprises, Inc. (NASDAQ: APOG) (“Apogee” or the “Company”) on behalf of investors who purchased the Company’s common stock between June 28, 2018 and September 17, 2018, inclusive (the “Class Period”).
Apogee investors who purchased the Company’s common stock during the Class Period and suffered a financial loss in excess of $50,000 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740, or skaskela@kaskelalaw.com, to discuss their legal rights and options. Additional information about this action may be found at http://kaskelalaw.com/case/apogee-enterprises-inc/.
On September 18, 2018, Apogee reported disappointing quarterly financial and operational results, including operating income for the Company’s glass segment of just $1.7 million (as compared to operating income of $10.3 million in the previous year’s quarter), and reduced its financial guidance for the fiscal year. Following this news, shares of the Company’s stock declined $5.74 per share, or nearly 12%, to close on September 18, 2018 at $42.48 per share.
The class action complaint alleges that defendants made materially false and misleading statements during the Class Period, and failed to disclose to investors that: (i) Apogee lacked the required labor force in place to ramp-up its production; (ii) Apogee was unable to hire, train and retain new employees; (iii) Apogee’s productivity and margins would be negatively impacted; and (iv) as a result of the foregoing, defendants’ statements about the Company’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. The complaint further alleges that investors purchased Apogee’s common stock at artificially inflated prices during the Class Period and suffered investment losses as a result of defendants’ conduct.
IMPORTANT DEADLINE: Investors who purchased Apogee’s common stock during the Class Period may, no later than January 4, 2019, seek to be appointed as a lead plaintiff representative of the investor class.
Investors who purchased the Company’s common stock during the Class Period and suffered a financial loss in excess of $50,000 are encouraged to contact Kaskela Law LLC for additional information about this action and their legal rights and recovery options. Kaskela Law LLC exclusively represents investors in state and federal courts throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
201 King of Prussia Road
Suite 650
Radnor, PA 19087
(484) 258 – 1585
(888) 715 – 1740
skaskela@kaskelalaw.com
www.kaskelalaw.com