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REV ALERT: Pawar Law Group Announces a Securities Class Action Lawsuit Against Revlon, Inc. – REV
NEW YORK, June 03, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Revlon, Inc. (NYSE: REV) from March 12, 2015 through March 28, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Revlon investors under the federal securities laws. To join the Revlon class action, go to http://pawarlawgroup.com/cases/revlon-inc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action. According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Revlon failed to create measures to monitor its enterprise resource planning (“ERP”) system appropriately once implemented; (2) Revlon failed to design, implement and consistently operate effective process-level controls to ensure that it appropriately (a) recorded and accounted for inventory, accounts receivable, net sales and cost of goods sold, (b) reconciled balance sheet accounts, (c) reviewed and approved the complete population of manual journal entries, and (d) used complete and accurate information in performing manual control, which constituted a material weakness in its internal controls over financial reporting; (3) as a result of the poor preparation and planning of the implementation of the ERP system, Revlon was unable to fulfill product shipments of approximately $64 million of net sales and the Company incurred $53.6 million of incremental charges to remediate the decline in customer services levels; and (4) as a result, defendants’ statements about Revlon’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 15, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://pawarlawgroup.com/cases/revlon-inc/ or call Vik Pawar, Esq. or toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action. No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff. Attorney Advertising. Prior results do not guarantee a similar outcome. Pawar Law Group represents investors from around the world. Contact:
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