LOS ANGELES, Nov. 10, 2018 (GLOBE NEWSWIRE) — The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of GreenSky, Inc. (“GreenSky” or “the Company”) (NASDAQ: GSKY) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. GreenSky lowered its full-year 2018 transaction volume guidance on November 6, 2018, from between $5.1 billion and $5.3 billion to between $4.9 billion and $5.1 billion. It also lowered its full-year adjusted EBITDA guidance from between $192 million and $199 million to between $165 and $175 million. The Company blamed a general shortage of labor and an unfavorable loan mix for the reduction. On this news, shares of GreenSky fell more than 36% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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