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Revolution Lighting Investors Sue Over Revenue Recognition

Feb. 1, 2019, 4:52 PM

Revolution Lighting Technologies Inc., an energy-efficient lighting firm, misled investors about improper revenue recognition practices that eventually led to an SEC investigation, a Jan. 31 suit said.

Revolution didn’t tell shareholders it wasn’t recognizing revenue at the right time, putting it at risk of a Securities and Exchange Commission investigation, according to a would-be class complaint in New York federal court.

The firm announced on Oct. 17 that it was revising its expected third quarter revenue to $33 million from $40 to $41 million, in part due to shipping delays, the complaint in the U.S. District Court for the Southern ...

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