San Diego, CA -- (SBWIRE) -- 07/19/2016 -- An investor, who purchased NASDAQ:SRCL shares, filed a lawsuit in Illinois over alleged violations of Federal Securities Laws by Stericycle Inc, its directors, certain of its senior executives, and underwriters of its public securities offering in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Stericycle Inc (NASDAQ:SRCL) have certain options and for certain investors are short and strict deadlines running. Deadline: September 12, 2016. NASDAQ:SRCL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff alleges on behalf of certain purchasers of Stericycle Inc (NASDAQ:SRCL) common shares, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Stericycle Inc engaged in a systematic scheme whereby it routinely and systematically raised the rates it charged its smaller customers in violation of the contracts it had with those customers and that by doing so, Stericycle Inc artificially inflated its revenues and growth. The plaintiff claims that the Defendants did not disclose this practice and, as a result, Stericycle Inc routinely misrepresented its performance and earnings.

Stericycle Inc reported that its Total Revenue rose from over $1.67 billion in 2011 to over $2.55 billion in 2014 and that its respective Net Income increased from $234.75 million to $326.46 million.

Shares of Stericycle Inc (NASDAQ:SRCL) grew from $76.51 per share in late 2011 to as high as $148.25 per share in August 2015

On September 9, 2015, Stericycle Inc announced the pricing of its public offering of 7,000,000 depositary shares, each of which represents a 1/10th interest in a share of its 5.25% Series A Mandatory Convertible Preferred Stock. The offering price was $100.00 per depositary share.

On October 22, 2015, Stericycle Inc disclosed disappointing growth rates and revenues during the third quarter of 2015 and lowered its guidance going forward.

On April 28, 2016, Stericycle Inc disclosed that its results for the first quarter of 2016 were below its guidance and analysts' expectations, and lowered its 2016 guidance going forward.

Shares of Stericycle Inc declined from $149.48 per share on October 16, 2015 to $91.05 per share on April 29, 2016.

On July 18, 2016, NASDAQ:SRCL shares closed at $105.86 per share.

Those who purchased shares of Stericycle Inc have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com