SOURCE: Saxena White P.A.

Saxena White P.A.

July 11, 2017 14:05 ET

Saxena White P.A. Files Securities Fraud Class Action Against HD Supply Holdings, Inc.

BOCA RATON, FL--(Marketwired - July 11, 2017) - Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court for the Northern District of Georgia against HD Supply Holdings, Inc. ("HD Supply" or the "Company") (NASDAQ: HDS) on behalf of investors who purchased or otherwise acquired the common stock of the Company between November 9, 2016 and June 5, 2017, inclusive (the "Class Period").

HD Supply is one of the largest industrial distributors in North America. The Company provides a broad range of products and services to approximately 500,000 professional customers in the maintenance, repair and operations, infrastructure and power and specialty construction sectors. The Company is incorporated in Delaware and maintains its principal executive offices in Atlanta, Georgia.

The Complaint brings forth claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects.

Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) HD Supply's full year 2017 growth and operational leverage targets were unattainable; (2) the operational recovery of its Facilities Maintenance supply chain was not going according to plan; (3) the Company was exploring the sale of its Waterworks segment; (4) Defendant Joseph DeAngelo, with full knowledge of the undisclosed materially adverse facts alleged herein, embarked on a selling spree of personal holdings of HD Supply stock that netted him over $54 million in proceeds; and (5) as a result of the foregoing, Defendants' statements about HD Supply's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

You may obtain a copy of the Complaint and join the class action at www.saxenawhite.com.

If you purchased HD Supply stock between November 9, 2016 and June 5, 2017, you may contact Lester Hooker (lhooker@saxenawhite.com) at Saxena White P.A. to discuss your rights and interests.

If you purchased HD Supply common stock during the Class Period of November 9, 2016 and June 5, 2017 and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court by no later than September 11, 2017. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.

Saxena White P.A., with offices in Florida, New York, and Massachusetts, concentrates its practice on prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.

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