SAN DIEGO, March 27, 2022 (GLOBE NEWSWIRE) — The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers of Vertiv Holdings Co VRT securities between April 28, 2021 and February 23, 2022, inclusive (the “Class Period”) have until May 23, 2022 to seek appointment as lead plaintiff in Vinings v. Vertiv Holdings Co, No. 22-cv-02416 (S.D.N.Y.). The Vertiv class action lawsuit charges Vertiv as well as certain of its top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered significant losses and wish to serve as lead plaintiff of the Vertiv class action lawsuit, please provide your information by clicking here. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com. Lead plaintiff motions for the Vertiv class action lawsuit must be filed with the court no later than May 23, 2022.
CASE ALLEGATIONS: Vertiv purports to be a “global leader in the design, manufacturing and servicing of critical digital infrastructure technology that powers, cools, deploys, secures and maintains electronics that process, store and transmit data.”
The Vertiv class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Vertiv could not adequately respond to supply chain issues and inflation by increasing its prices; (ii) as a result of the increasing costs, Vertiv’s earnings would be adversely impacted; and (iii) consequently, defendants’ positive statements about Vertiv’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On February 23, 2022, Vertiv reported disappointing financial results, including $0.06 earnings per share for fourth quarter 2021, missing analyst estimates of $0.28 per share. Vertiv’s Chief Executive Officer attributed the poor results to management “consistently underestimat[ing] inflation and supply chain constraints for both…
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