LOS ANGELES, Nov. 10, 2018 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of GreenSky, Inc. (“GreenSky” or “the Company”) (NASDAQ: GSKY) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. GreenSky lowered its full-year 2018 transaction volume guidance on November 6, 2018, from between $5.1 billion and $5.3 billion to between $4.9 billion and $5.1 billion. It also lowered its full-year adjusted EBITDA guidance from between $192 million and $199 million to between $165 and $175 million. The Company blamed a general shortage of labor and an unfavorable loan mix for the reduction. On this news, shares of GreenSky fell more than 36% on the same day.
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