NEW YORK, NY / ACCESSWIRE / April 10, 2019 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Aerojet Rocketdyne Holdings, Inc. ("Aerojet" or the "Company") (NASDAQ: AJRD). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/ajrd.
The investigation concerns whether Aerojet and certain of its officers and/or directors have violated federal securities laws.
On April 9, 2019, Spruce Point Management ("Spruce Point") published a report alleging that Aerojet "is facing fundamental pressures, masked by complicated and aggressive accounting, which gives investors a potentially misleading impression of stability and growth." Among other issues, Spruce Point asserted that "~$900M of liabilities associated with the business [makes] the Company 5x more levered than it appears" and that "analysts blindly pencil in 4% revenue growth in the next two years, despite hundreds of millions of dollars in revenue programs that are disappearing." Following publication of the Spruce Point report, Aerojet's stock price fell sharply during intraday trading on April 9, 2019.
If you are aware of any facts relating to this investigation, or purchased Aerojet shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/ajrd. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC