RBC ALERT: Bragar Eagel & Squire, PC is investigating RBC Bearings Incorporated on behalf of RBC shareholders and urging investors to contact the company
NEW YORK–(BUSINESS WIRE)–Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against RBC Bearings Incorporated (“RBC” or the “Company”) ) (NASDAQ: ROLL) on behalf of RBC shareholders. Our investigation is to determine whether RBC has violated federal securities laws and/or engaged in other illegal business practices.
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On August 4, 2022, in a filing with the U.S. Securities and Exchange Commission, RBC disclosed “that the consolidated financial statements previously issued at and for the years ended April 2, 2022, April 3, 2022 and March 28 2020 and the consolidated financial statements for the quarters (the “Affected Periods”) included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on May 26, 2022 contained an error related to stock accounting non-monetary -compensation granted to the Company’s Chief Executive Officer and Chief Operating Officer. As a result of this error, the Audit Committee has determined that the Company’s consolidated financial statements for the affected periods included in the 2022 Annual Report on Form 10-K should not be relied upon and should be restated by adjusting fees. sales, general and administrative to reflect the non-cash stock-based compensation that should have been recognized in each of the relevant periods. »
On this news, RBC’s stock price fell $16.68 per share, or 6.71%, to close at $231.91 per share on August 4, 2022.
If you have purchased or otherwise acquired shares of RBC and suffered a loss, if you are a long-time shareholder, if you have information, if you want to know more about these claims or if you have questions regarding this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], by phone at (212) 355-4648, or by completing this contact form. There is no cost or obligation for you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation before state and federal courts across the country. For more company information, please visit www.bespc.com. Lawyer advertisement. Prior results do not guarantee similar results.