September 11th Deadline Alert: The Law Offices Of Howard G. Smith Reminds Investors Of Looming Deadline In The Class Action Lawsuit Against HD Supply Holdings, Inc.

Law Offices of Howard G. Smith reminds investors of the September 11, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased HD Supply Holdings, Inc. ("HD Supply" or the "Company") (NASDAQ:  HDS) securities between November 9, 2016 and June 5, 2017, inclusive (the "Class Period"). HD Supply investors have until  September 11, 2017 to file a lead plaintiff motion in this class action.

On June 6, 2017, HD Supply reported first quarter 2017 earnings that missed analyst estimates; disclosed the divestiture of one of its main business segments, "Waterworks," which is the nation's largest distributor of water, sewer, storm and fire protection products; and announced increased capital investments in its FM segment.

Following these disclosures, HDS's stock price fell $8.46 over two trading days, or over 20%, to close at $32.81 per share on June 7, 2017.

According to the Complaint filed in this class action, throughout the Class period, HD Supply made materially false and misleading statements and/or failed to disclose that: (1) HD Supply's full year 2017 growth and operational leverage targets were unattainable; (2) the operational recovery of its Facilities Maintenance supply chain was not going according to plan; (3) the Company was exploring the sale of its Waterworks segment; (4) Defendant DeAngelo, with full knowledge of the undisclosed materially adverse facts alleged herein, embarked on a selling spree of personal holdings of HD Supply stock that netted him over $54 million in proceeds; and (5) as a result of the foregoing, Defendants' statements about HD Supply's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

If you purchased shares of HD Supply during the Class Period you may move the Court no later than  September 11, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to  howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170906006115/en/

Copyright Business Wire 2010

More from Press Releases

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

21st Century Fox Scoops Up Local News Stations

21st Century Fox Scoops Up Local News Stations

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Three-Part FREE Webinar Series

Three-Part FREE Webinar Series

March 24 Full-Day Course Offering: Professional Approach to Trading SPX

March 24 Full-Day Course Offering: Professional Approach to Trading SPX