Case: BrightView Holdings, Inc.
Venue: Pennsylvania Common Pleas Court, Montgomery County
Class Period: On behalf of all persons and entities who purchased or otherwise acquired BrightView common stock pursuant to the Registration Statement issued in connection with the Company's June 27, 2018 Initial Public Offering ("IPO")
Lead Plaintiff Deadline: n/a
Contact: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

NEW YORK, NY – April 24, 2019 – Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of BrightView Holdings, Inc. (“BrightView” or the “Company”) (NYSE: BV).  

Investors who purchased BrightView common stock pursuant or traceable to the Company’s July 2018 Initial Public Offering (the “IPO”) may be affected.  A complaint has been filed against BrightView, as well as certain executives and/or directors.

On or about July 2, 2018, BrightView sold 24,495,000 shares of BrightView common stock at $22 per share pursuant to a registration and prospectus for the IPO (the “Registration Statement”).

According to the complaint, on August 9, 2018, BrightView filed its quarterly report for the third quarter of 2018, the quarter ended June 30, 2018, and disclosed that its Maintenance Services revenue was negatively impacted by the Company’s “Managed Exit” strategy.  The Managed Exit strategy was BrightView’s purported corporate strategy to allow certain “underperforming contracts” to expire upon maturity or renegotiate the contracts to provide the Company with more favorable terms.  According to the complaint, this was the first time the Company disclosed that it held “underperforming” customer contracts.

Following this news, Brightview’s common stock fell $2.30 per share, about 10.4%, to close at $19.90 per share on August 9, 2018.

Further, according to the complaint, the extent of BrightView’s “underperforming contracts” was further revealed when BrightView issued press releases on November 27, 2018 and on February 7, 2019 in connection with reporting its fourth quarter and fiscal year financial results for the period ending September 30, 2018, and its first quarter financial results for the period ending December 31, 2018.  Among other things, Net Service revenues were negatively impacted by a $23.1 million decrease for the twelve months ended September 30, 2018 and a $10.8 million decrease in the first quarter ended December 31, 2018 as a result of the Company’s Managed Exit strategy surrounding underperforming contracts.

According to the complaint, the Registration Statement for the IPO failed to disclose material adverse facts. Specifically. Defendants allegedly made false and/or misleading statements, as well as failed to disclose that (i) a material portion of BrightView’s contracts were underperforming and/or represented undesirable costs to the Company, (ii) the Company was implementing a Managed Exit strategy to end such contracts, (iii) the Managed Exit strategy would negatively impact BrightView’s future revenue throughout 2018 and into 2019, and (iv) as a result, BrightView’s Registration Statement for the IPO was materially false and/or misleading.

If you are a BrightView investor and would like to discuss the complaint or our investigation, please contact us by emailing This e-mail address is being protected from spambots. You need JavaScript enabled to view it or by calling 800-290-1952.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, the action, your rights, or your interests, please contact: 

Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400 
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it