World News: 13:00 GMT Tuesday 3rd December 2019. [Pomerantz LLP via Globe Newswire via SPi World News]
NEW YORK, Dec. 03, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Cintas Corporation (“Cintas” or the “Company”) (NASDAQ: CTAS). Such investors are advised to contact Robert S. Willoughby at or 888-476-6529, ext. 9980.
The investigation concerns whether Cintas and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 13, 2019, Spruce Point Capital Management (“Spruce Point”) issued a report on Cintas claiming to “have evidence that Cintas’ Fire Protection Services was charged with fraud and is causing a public safety hazard by having workers conduct fire and safety inspections without proper licenses or permits, and falsifying inspections.” Spruce Point additionally stated that “Cintas is facing financial strain in its core uniform rental business from its 2017 levered acquisition of G&K [Services, Inc.] for $2.1 bn,” asserting that “it appears management may have suppressed G&K revenue and misguided expenses.” On this news, Cintas’s stock price fell sharply during intraday trading.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See .
Globe Newswire: 13:00 GMT Tuesday 3rd December 2019
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