An investigation on behalf of investors of Black Knight, Inc. (NYSE: BKI) shares over potential securities laws violations by Black Knight, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Black Knight, Inc. (NYSE: BKI) concerning whether a series of statements by Black Knight, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Jacksonville, FL based Black Knight, Inc. provides integrated software, data, and analytics solutions to the mortgage and consumer loan, real estate, and capital market verticals in the United States. Black Knight, Inc. reported that its annual Total Revenue rose from over $1.05 billion in 2017 to over $1.11 billion in 2018 and that its Net Income declined from $182.3 million in 2017 to $168.50 million in 2018.

On November 6, 2019, PennyMac Financial Services, Inc. (PennyMac), announced that it had filed a lawsuit against Black Knight, Inc., 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.
PennyMacs announcement specified that [t]he lawsuit alleges that Black Knight violated the federal Sherman Act, the California Cartwright Act and Californias Unfair Competition Law and engaged in unfair competition under common law and that PennyMac seeks, among other relief, to preliminarily and permanently enjoin Black Knights wrongful practices, and seeks the recovery of actual and statutory damages.

Shares of Black Knight, Inc. (NYSE: BKI) declined from $64.80 per share on November 1, 2019 to as low as $53.61 per share on November 6, 2019.