STEVENSON, Md.--(BUSINESS WIRE)--

The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the District of Delaware on behalf of purchasers of Acuity Brands, Inc. (NYSE: AYI) (“Acuity Brands” or the “Company”) securities during the period between June 29, 2016 and April 3, 2017 inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until March 5, 2018 to seek appointment as lead plaintiff.

If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Acuity Brands securities during the Class Period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that known trends were negatively impacting sales of the Company’s products and that the Company’s ability to achieve profitable sales growth was overstated.

According to the complaint, following an October 5, 2016 press release and conference call reporting financial results and disclosing labor shortages which impacted production and shipments, a January 9, 2017 press release and conference call reporting financial results and disclosing lower adjusted gross profit margin due to weaker net sales, higher manufacturing costs, a rise in quality costs and increases in wages, and an April 4, 2017 press release reporting financial results and disclosing a decline in gross profit margin due to higher manufacturing expenses, the value of Acuity Brands shares declined significantly.

If you have suffered a loss in excess of $100,000 from investment in Acuity Brands securities purchased on or after June 29, 2016 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please contact Brower Piven either by email at [email protected] or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

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