NEW YORK, Nov. 19, 2019 /PRNewswire/ -- Scott+Scott Attorneys at Law LLP ("Scott+Scott"), a national securities and consumer rights litigation firm, is investigating whether certain directors and officers of Black Knight, Inc. ("Black Knight") (NYSE: BKI) breached their fiduciary duties to Black Knight and its shareholders. If you are a Black Knight shareholder, you are encouraged to contact attorney Joe Pettigrew with Scott+Scott for additional information at (844) 818-6982 or [email protected].
Black Knight sells software and services for the residential mortgage servicing industry. Scott+Scott is investigating whether members of Black Knight's board of directors made, or allowed Black Knight to make, false and/or misleading statements and/or failed to disclose material information to the investing public.
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 for unfair and deceptive trade practices. The lawsuit alleges that Black Knight used its market dominance in mortgage loan servicing systems to entrap licensees and stifle competition. The complaint also reveals that PennyMac gave notice that it was terminating its contract with Black Knight in May 2019. 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 $4.69, or over 7.5%, to close at $57.65 on November 6, 2019.
What You Can Do
If you are a Black Knight shareholder, you may have legal claims against Black Knight's directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at (844) 818-6982 or [email protected].
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.
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