REV Group, Inc. (REVG) IPO Documents Allegedly Contained Untrue Statements

According to the class action complaint, REV Group, Inc. (REVG) touted that it had achieved sustained growth across its operating metrics and that its ability to control costs and its unique visibility into future revenue streams were key competitive advantages that would allow it to grow margins and provide investors with predictable financial results.  The complaint alleges that REV failed to disclose that its pre-IPO acquisitions resulted in an organizational structure that prevented it from operating efficiently and controlling costs.  The complaint also alleges that REV did not have leverage over its suppliers, subjecting it to sudden and substantial costs increases on critical parts and materials. REV stock now trades approximately 30% below its $22 IPO price.

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