SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Acuity Brands, Inc. (AYI) & Lead Plaintiff Deadline – March 5, 2018

NEW YORK, NY / ACCESSWIRE / January 30, 2018 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Acuity Brands, Inc. (“Acuity” or the “Company”) (NYSE: AYI) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Acuity securities between June 29, 2016 and April 3, 2017, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/ayi.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) known trends were negatively impacting sales of Acuity’s products; (2) Acuity’s ability to achieve profitable sales growth was overstated; and (3) as a result, defendants’ positive statements about Acuity’s current and future business and financial prospects lacked a reasonable basis.

On October 5, 2016, Acuity announced financial and operating results for the Company’s fourth quarter and fiscal year 2016 (ended August 31, 2016) that fell below expectations, citing “uncertainty and volatility” associated with the U.S. presidential election and the U.K.’s referendum vote to exit the European Union. On this news, Acuity’s share price fell $12.01, or 4.7%, to close at $242.99 on October 5, 2016. On January 9, 2017, Acuity announced financial and operating results for the first quarter of the Company’s fiscal year 2017 (ended November 30, 2016), advising investors of lower-than-expected sales, which the Company attributed to weaker customer demand “apparently due to…election jitters.” On this news, Acuity’s share price fell $34.85, or 14.7%, to close at $202.51 on January 9, 2017. On April 4, 2017, Acuity reported financial and operating results for the second quarter of the Company’s fiscal year 2017, continuing to blame “the impact of continued softness in demand for certain short cycle, small lighting projects,” but acknowledging for the first time that demand softness “could potentially linger into the second half of 2017.” On this news, Acuity’s share price fell $30.13, or 14.8%, to close at $173.93 on April 4, 2017.

A class action lawsuit has already been filed. You can review a copy of the Complaint at www.bgandg.com/ayi or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Acuity, you have until March 5, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484

SOURCE: Bronstein, Gewirtz & Grossman, LLC

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