15 Days Remain before May 20, 2013, Lead Plaintiff Deadline in Investor Lawsuit against Great Lakes
15 Days Remain before May 20, 2013, Lead Plaintiff Deadline in Investor Lawsuit against Great Lakes Dredge & Dock Corp., Hagens Berman Reminds Investors
CHICAGO--(BUSINESS WIRE)-- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, today informed investors that only 15 days remain before the May 20, 2013, deadline in the investor class-action lawsuit filed against Great Lakes Dredge & Dock Corp. (NAS: GLDD) ("GLDD" or "the Company"). Investors can contact Hagens Berman Partner Reed Kathrein, who is leading the firm's investigation, by calling (510) 725-3000 or by emailing GLDD@hbsslaw.com.
If you purchased shares of GLDD common stock between August 7, 2012, and March 14, 2013, inclusive (the "class period"), suffered significant losses and wish to move to be a lead plaintiff in the pending class action, you can also contact Mr. Kathrein by submitting information at http://www.hb-securities.com/investigations/GLDD.
Investors who wish to serve as lead plaintiff in the case must move the court no later than May 20, 2013. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
On March 14, 2013, GLDD announced a restatement of its financial results, impacting both the second and third financial quarters of 2012. In its statement, the company noted that, "Certain pending change orders where client acceptance has not been finalized were included as revenue. After a review, the Company concluded 2012 second and third quarter demolition segment revenues were overstated by $3.9 million and $4.3 million, respectively."
GLDD's announcement was followed by the resignation of Bruce J. Biemeck, the company's President and Chief Operating Officer.
On the news, GLDD's stock price fell by approximately 30 percent, and continues to trade below class period highs.
Hagens Berman is investigating this issue to determine whether the company's previous financial statements were unreliable or otherwise misleading, and if, as a result, the company is liable for investor losses.
Hagens Berman reminds whistleblowers with inside information that rewards may be available to individuals who report information leading to a successful enforcement action by the Securities and Exchange Commission. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law firm with offices in 10 cities, including Chicago. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the law firm and its successes can be found at www.hbsslaw.com. The Firm's securities law blog is at http://www.meaningfuldisclosure.com.
Firmani + Associates
Mark Firmani, 206-443-9357
KEYWORDS: United States North America Illinois
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