NEW YORK, Sept. 25, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Granite Construction Incorporated between October 26, 2018 and August 1, 2019, inclusive (the “Class Period”).
If you wish to serve as lead plaintiff, you must move the Court no later than October 15, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to obtain a recovery is not dependent upon being a lead plaintiff. If you wish to join the case go: http://zhanginvestorlaw.com/join-action-form/?slug=granite-construction-incorporated&id=1992 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email firstname.lastname@example.org, email@example.com for information on the class action.
According to the case, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company had assumed certain risks in connection with its heavy civil joint venture projects bid between 2012 and 2014; (2) there was an "untenable" imbalance of risk sharing between the Company and the joint venture project owners; (3) as a result, the Company was reasonably likely to incur additional project costs for its joint venture projects; (4) the Company was reasonably likely to incur additional costs in connection with certain project disputes; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects and prospects were materially misleading and/or lacked a reasonable basis.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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