BENSALEM, Pa. –Law Offices of Howard G. Smith announces an investigation on behalf of Acuity Brands, Inc. (“Acuity” or the “Company”) (NYSE: AYI) investors concerning the Company and its officers’ possible violations of federal securities laws.
On October 5, 2016, Acuity announced its fourth quarter and fiscal year 2016 (ended August 31, 2016) financial results. The results fell below expectations, purportedly due to “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, shares of Acuity fell $12.01, or 4.7%, to close at $242.99 on October 5, 2016.
On January 9, 2017, Acuity announced its first quarter 2017 financial and operating results, disclosing lower-than-expected sales, which the Company attributed to weaker customer demand due to “election jitters.” On this news, shares of Acuity fell $34.85, or 14.7%, to close at $202.51 on January 9, 2017.
On April 4, 2017, Acuity announced its financial and operating results for the second quarter of 2017, and attributed poor performance to “the impact of continued softness in demand for certain short cycle, small lighting projects,” and claimed 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, thereby injuring investors.
If you purchased Acuity securities, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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