Evoqua Water Technologies Corp. (AQUA) Accused of Failing to Integrate Its Acquisitions
According to the complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1934 between November 6, 2017 and October 30, 2018, Evoqua told investors that the company’s experienced management team had expanded the company’s operations to new target markets and had shown “successful acquisition and integration capabilities.” Despite these assurances, Evoqua had not successfully integrated its prior acquisitions and was experiencing an extended delay on a large aquatics project, among other obstacles. On October 30, 2018, Evoqua announced that its preliminary financial results for the fourth quarter and fiscal year ended September 30, 2018, fell below the company’s expectations. Evoqua attributed the disappointing results to acqusition system integration issues and supply chain disruptions influenced by tariffs. On this news, Evoqua’s stock plummeted over 34% to close at $9.02 per share on October 30, 2018.
Evoqua Water Technologies Corp. (AQUA) Shareholders Have Legal Options
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