Fly News Breaks for November 16, 2018
Nov 16, 2018 | 08:06 EDT
Roth Capital analyst Craig Irwin placed shares of Revolution Lighting Under Review, as he believes investors now face elevated risks related to control. The company received an updated buyout offer from CEO Bob LaPenta'sRVL I LLC, reducing the offer to $1.50 per share from $2.00. With the recently disclosed SEC review of revenue recognition practices, Irwin tells investors in a research note that he would look to have higher confidence around certain governance issues before reinstating any rating on the stock. Irwin's prior rating was Buy with a $2.00 price target.
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