GreenSky (GSKY) Alert: Johnson Fistel Announces Investigation of GreenSky, Inc.; Encourages Investors to Contact the Firm for Additional Information

GreenSky (GSKY) Alert: Johnson Fistel Announces Investigation of GreenSky, Inc.; Encourages Investors to Contact the Firm for Additional Information

PR Newswire

SAN DIEGO, Nov. 7, 2018 /PRNewswire/ -- Johnson Fistel, LLP, is investigating potential violations of the federal securities laws by GreenSky, Inc. (NASDAQ: GSKY) ("GreenSky ") and certain of its officers and directors. GreenSky is a technology company that provides point-of-sale financing and payment solutions to merchants, consumers, and banks.

On November 6, 2018, GreenSky 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.

Following this news, GreenSky's share price fell 36.7%, to close at $9.28 per share on November 6, 2018.

On or about May 24, 2018, GreenSky sold 38 million shares of stock in its initial public stock offering (the "IPO"), at $23 a share raising $874,000,000 in new capital.  However, since the IPO, Switch stock has imploded, on November 7, 2018, the stock closed at $9.16.

Specifically, Johnson Fistel's investigation seeks to determine whether the Company's filings with the U.S. Securities and Exchange Commission in connection with its May 2018 initial public stock offering (the "IPO") contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company's business, and operations.

If you have information that could assist in this investigation, or if you are a GreenSky shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471 
[email protected]

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SOURCE Johnson Fistel, LLP

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