NEW YORK, Nov. 11, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Black Knight, Inc. (“Black Night” or the “Company”) (NYSE: BKI). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Black Knight and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 6, 2019, PennyMac Financial Services, Inc. (“PennyMac”), a customer of Black Knight’s mortgage software products since 2008, announced that it had filed a lawsuit against Black Knight in U.S. District Court for the Central District of California, “alleging that Black Knight . . . uses its market-dominating LoanSphere® MSP mortgage loan servicing system to engage in unfair business tactics that both entrap its licensees and create barriers to entry that stifle competition.” PennyMac’s press release specified that “[t]he lawsuit alleges that Black Knight violated the federal Sherman Act, the California Cartwright Act and California’s Unfair Competition Law and engaged in unfair competition under common law” and that PennyMac “seeks, among other relief, to preliminarily and permanently enjoin Black Knight’s wrongful practices, and seeks the recovery of actual and statutory damages.”
On this news, Black Knight’s stock price fell sharply during intraday trading on November 6, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980