RBC Bearings Incorporated Investors: Company Investigated by the Portnoy Law Firm
News provided byPortnoy Law
Aug 16, 2022, 4:26 PM ET
Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Aug. 16, 2022 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises RBC Bearings Incorporated (“RBC” or “the Company”) (NASDAQ: ROLL) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. RBC investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: email@example.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. RBC disclosed on August 4, 2022, that its financial statements for the years ending April 2, 2022, April 3, 2021, and March 28, 2020, along with all quarterly statements associated with these years, contained accounting errors related to non-cash stock-based compensation paid to its CEO and COO. The Company admitted that these financial statements would need to be restated by adjusting selling, general and administrative expenses to account for the non-cash stock-based compensation. Based on this news, shares of RBC fell sharply on the same day.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar