A lawsuit was filed on behalf of investors in Apogee Enterprises, Inc. (NASDAQ: APOG) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 11/26/2018 -- The Shareholders Foundation announces that an investor, who purchased shares of Apogee Enterprises, Inc. (NASDAQ: APOG), filed a lawsuit over alleged violations of Federal Securities Laws by Apogee Enterprises, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Apogee Enterprises, Inc. (NASDAQ: APOG) have certain options and for certain investors are short and strict deadlines running. Deadline: January 4, 2018. NASDAQ: APOG investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff claims that between June 28, 2018 and September 17, 2018m the defendants made false and/or misleading statements and/or failed to disclose that Apogee Enterprises, Inc. lacked the required labor force in place to ramp-up its production, that Apogee Enterprises, Inc. was unable to hire, train and retain new employees, that Apogee Enterprises, Inc's productivity and margins would be negatively impacted, and that 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.
Minneapolis, MN based Apogee Enterprises, Inc. designs and develops glass and metal products and services in the United States, Canada, and Brazil. Apogee Enterprises, Inc. reported that its Total Revenue rose from over $1.11 billion for the 12 months period that ended on March 4, 2017 to over $1.32 billion for the 12 months period that ended on March 3, 2018 and that its Net Income for those time periods declined from $85.79 million to $79.48 million
On September 18, 2018, Apogee announced its Q2 fiscal 2019 results. In the announcement CEO Joseph F. Puishys was quoted stating: "challenges ramping-up production in Architectural Glass in a tight labor market impacted overall results in the quarter." Then during a conference call, Puishys stated that "At the root of the issues was the challenge of hiring and training qualified new employees in an extremely tight labor market… Should we have been better prepared for these challenges? The simple answer is, yes."
Those who purchased shares of Apogee Enterprises, Inc. (NASDAQ: APOG) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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