NEW YORK -- (Business Wire)
Rosen Law Firm, a global investor rights law firm, announces it is
investigating potential securities claims on behalf of shareholders of
Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) resulting from allegations
that Aeroject may have issued materially misleading business information
to the investing public.
On April 9, 2019, Spruce Point Management (“Spruce Point”) published a
report alleging that Aerojet “is facing fundamental pressures, masked by
complicated and aggressive accounting, which gives investors a
potentially misleading impression of stability and growth.” Among other
issues, Spruce Point asserted that “~$900M of liabilities associated
with the business [makes] the Company 5x more levered than it appears”
and that “analysts blindly pencil in 4% revenue growth in the next two
years, despite hundreds of millions of dollars in revenue programs that
are disappearing.” Following publication of the Spruce Point report,
Aerojet’s stock price fell sharply during intraday trading on April 9,
Rosen Law Firm is preparing a class action lawsuit to recover losses
suffered by Aerojet investors. If you purchased shares of Aerojet please
visit the firm’s website at http://www.rosenlegal.com/cases-register-1551.html
to join the class action. You may also contact Phillip Kim of Rosen Law
Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org
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Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class
Action Services for number of securities class action settlements in
2017. The firm has been ranked in the top 3 each year since 2013.
Attorney Advertising. Prior results do not guarantee a similar outcome.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190414005033/en/
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
Madison Avenue, 34th Floor
New York, NY 10016
Toll Free: (866) 767-3653
Fax: (212) 202-3827
Source: The Rosen Law Firm, P.A.
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