NEW YORK, Nov. 19, 2018 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of GreenSky, Inc. ("GreenSky" or the "Company") (NASDAQ: GSKY). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether GreenSky and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around May 24, 2018, GreenSky completed its initial public offering ("IPO"), issuing 38 million shares priced at $23.00 per share and raising $874 million. On November 6, 2018, GreenSky lowered its full-year 2018 transaction volume guidance from between $5.1 and $5.3 billion to between $4.9 and $5.1 billion and lowered its full-year 2018 Adjusted EBITDA guidance from between $192 and $199 million to between $165 and $175 million. GreenSky attributed the reduction to a general labor shortage and unfavorable shifts in its loan mix. Following these disclosures, GreenSky's stock price closed at $9.28 per share, a decline of $13.72, or approximately 60%, from the IPO price of $23.00 per share.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, 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
SOURCE Pomerantz LLP