BOSTON, Nov. 13, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors and whistleblowers nationwide, is investigating Black Knight, Inc. (NYSE: BKI) and certain of its officers and directors for potential violations of federal securities laws.
On November 6, 2019, PennyMac Financial Services, Inc. ("PennyMac") filed a lawsuit against Black Knight for unfair and deceptive trade practices. The lawsuit alleges that Black Knight used its market dominance in mortgage loan servicing systems to entrap licensees and stifle competition. The Complaint also reveals that PennyMac gave notice that it was terminating its contract with Black Knight in May 2019. Black Knight failed to properly disclose to the market the loss of this significant customer and substantial revenue source. Based on this news, Black Knight’s share price fell by $4.69 or about 7.5% on the same day.
If you have purchased or otherwise acquired Black Knight securities and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact attorney Mark Delaney at (617) 398-5600, by email at mdelaney@blockesq.com, or by visiting https://shareholder.law/bki.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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CONTACT:
BLOCK & LEVITON LLP
Mark Delaney
(617) 398-5600 phone
260 Franklin Street, Suite 1860
Boston, MA 02110
mark@blockesq.com