LOS ANGELES, CA / ACCESSWIRE / August 10, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of RBC Bearings Incorporated ("RBC" or "the Company") (NASDAQ:ROLL) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. RBC disclosed on August 4, 2022, that its financial statements for the years ending April 2, 2022, April 3, 2021, and March 28, 2020, along with all quarterly statements associated with these years, contained accounting errors related to non-cash stock-based compensation paid to its CEO and COO. The Company admitted that these financial statements would need to be restated by adjusting selling, general and administrative expenses to account for the non-cash stock-based compensation. Based on this news, shares of RBC fell sharply on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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SOURCE: The Schall Law Firm