REVLON, INC. INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York against Revlon, Inc.
Tuesday, 21 May 2019 Lead Plaintiff Deadline is July 15, 2019
NEW YORK, May 21, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed against Revlon, Inc. (“Revlon” or the “Company”) (NYSE: REV) in the United States District Court for the Eastern District of New York on behalf of those who purchased or acquired the securities of Revlon between March 12, 2015 through March 28, 2019, inclusive (the “Class Period”).
*Investors who purchased the shares of **Revlon, Inc are* *urged** to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website www.whafh.com.*
If you have incurred losses in the shares of Revlon, Inc., *you may,* *no later than July 15,** 2019, *request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Revlon, Inc.
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The filed Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that:
· Revlon failed to create measures to monitor its enterprise resource planning (“ERP”) system appropriately once implemented;
· Revlon failed to design, implement and consistently operate effective process-level controls to ensure that it appropriately recorded and accounted for inventory, accounts receivable, net sales and cost of goods sold, reconciled balance sheet accounts, reviewed and approved the complete population of manual journal entries, and used complete and accurate information in performing manual control, which constituted a material weakness in its internal controls over financial reporting;
· 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
· 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.Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.
Lead Plaintiff Deadline is August 5, 2019
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