GreenSky, Inc. (NASDAQ: GSKY) Investor Securities Class Action Lawsuit 11/27/2018

If you purchased a shares of GreenSky, Inc. (NASDAQ: GSKY), you have certain options and for certain investors are short and strict deadlines running. Deadline: January 28, 2019. NASDAQ: GSKY investors should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Case Name: 
GreenSky Shareholder Class Action Lawsuit 11/27/2018
Case Status: 
Lawsuit Filed
Affected Securities
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
Class Period Begin: 
Class Period End: 
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 

An investor in shares of GreenSky, Inc. (NASDAQ: GSKY) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by GreenSky, Inc. in connection with certain allegedly false and misleading statements made in connection with the Company’s initial public offering (“IPO”), which closed on May 29, 2018.

Atlanta, GA based GreenSky, Inc., a technology company, provides point-of-sale financing and payment solutions to merchants, consumers, and banks. GreenSky, Inc. went public in May 2018. GreenSky, Inc. reported that its annual Total Revenue rose from $263.86 million in 2016 to $325.88 million in 2017 and that its Net Income increased from $124.46 million in 2016 to $138.66 million in 2017.

On November 6, 2018, GreenSky, Inc. lowered its full year 2018 transaction volume guidance from between $5.1 and $5.3 billion to between $4.9 and $5.1 billion, and lowered its full year 2018 Adjusted EBITDA guidance from between $192 and $199 million to between $165 and $175 million. GreenSky attributed the reduction to a general labor shortage and unfavorable shifts in its loan mix.
According to the complaint the plaintiff alleges on behalf of purchasers of Class A common stock of GreenSky, Inc. (NASDAQ: GSKY) acquired in the Company’s initial public offering (“IPO”), which closed on May 29, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the Defendants made false and misleading statements and omissions in the registration statement and prospectus for the Company’s IPO (the “Offering Documents”) and, in so doing, violated Sections 11, 12(a)(2), and 15 of the Securities Act of 1933.