NEW YORK, July 10, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Brookfield Business Partners L.P. (“Brookfield” or the “Company”) (NYSE: BBU). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Brookfield and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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In April 2022, Brookfield purchased CDK Global (“CDK”), a provider of software to car dealerships, for $6.41 billion. Then, on June 19, 2024, CDK announced that it was investigating a cyber incident and had shut down all of its systems proactively, significantly disrupting operations at car dealerships across the U.S. and Canada. CDK subsequently acknowledged that it had been the victim of a cyberattack and that its systems were hacked a second time as it tried to restore services.
On this news, Brookfield’s unit price fell $2.19 per unit, or 11.13%, over the following two trading sessions, to close at $17.49 per unit on June 21, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
