In early March 2020, GFL conducted its initial public offering (“IPO”), issuing 75 million shares at a price of $19.00 per share. On August 18, 2020, Spruce Point Management (“Spruce Point”) published a report entitled “Green for Life, Red For Losses” addressing GFL. Among other things, the Spruce Point report accused Patrick Dovigi, GFL’s Chief Executive Officer, of “obfuscat[ing] connections to what some observers have dubbed ‘organized crime’” and opined that “GFL’s leverage is understated by aggressive reporting of revenue and EBITDA, and free cash flow burn is understated by ~60%,” asserting that “this is evidenced by financial restatements without explanation, and by minimizing a material weaknesses of financial controls.” On August 18, 2020, GFL’s stock price fell $1.75 per share, or 8.245, following publication of the Spruce Point report, to close at $19.48 per share.
GFL Environmental, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to email@example.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at firstname.lastname@example.org.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
8240 Beverly Blvd., Suite 9
Los Angeles, CA 90048