Apogee Enterprises, Inc. (NASDAQ: APOG) Investor Securities Class Action Lawsuit 11/05/2018

If you purchased a significant amount of shares of Apogee Enterprises, Inc. (NASDAQ: APOG) between June 28, 2018 and September 17, 2018, and / or if you purchased any NASDAQ: APOG shares prior to June 2018 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: January 4, 2018. NASDAQ: APOG investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Apogee Enterprise
Case Name: 
Apogee Enterprise Shareholder Class Action Lawsuit 11/05/2018
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: APOG
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
11/05/2018
Class Period Begin: 
06/28/2018
Class Period End: 
09/17/2018
Court of Filing: 
U.S. District Court for the District of Minnesota
Deadline To File for Lead: 
01/04/2019
Summary: 

An investor in shares of Apogee Enterprises, Inc. (NASDAQ: APOG) filed a lawsuit in the U.S. District Court for the District of Minnesota over alleged violations of Federal Securities Laws by Apogee Enterprises, Inc. in connection with certain allegedly false and misleading statements made between June 28, 2018 and September 17, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Apogee Enterprises, Inc. (NASDAQ: APOG) common shares between June 28, 2018 and September 17, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between June 28, 2018 and September 17, 2018m the defendants made false and/or misleading statements and/or failed to disclose that Apogee Enterprises, Inc. lacked the required labor force in place to ramp-up its production, that Apogee Enterprises, Inc. was unable to hire, train and retain new employees, that Apogee Enterprises, Inc’s productivity and margins would be negatively impacted, and that as a result of the foregoing, Defendants’ statements about the Company’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

Minneapolis, MN based Apogee Enterprises, Inc. designs and develops glass and metal products and services in the United States, Canada, and Brazil. Apogee Enterprises, Inc. reported that its Total Revenue rose from over $1.11 billion for the 12 months period that ended on March 4, 2017 to over $1.32 billion for the 12 months period that ended on March 3, 2018 and that its Net Income for those time periods declined from $85.79 million to $79.48 million

On September 18, 2018, Apogee announced its Q2 fiscal 2019 results. In the announcement CEO Joseph F. Puishys was quoted stating: “challenges ramping-up production in Architectural Glass in a tight labor market impacted overall results in the quarter.” Then during a conference call, Puishys stated that “At the root of the issues was the challenge of hiring and training qualified new employees in an extremely tight labor market… Should we have been better prepared for these challenges? The simple answer is, yes.”

Shares of Apogee Enterprises, Inc. (NASDAQ: APOG) declined to as low as $33.10 per share on October 29, 2018.