SAN FRANCISCO, March 02, 2017 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP alerts investors in Graña y Montero S.A.A. (NYSE:GRAM) to the securities class action pending in the United States District Court for the Eastern District of New York and to the May 1, 2017 Lead Plaintiff deadline.
If you purchased or otherwise acquired securities of GRAM between April 30, 2014 and February 24, 2017 and suffered over $50,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/GRAM
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing GRAM@hbsslaw.com.
On February 24, 2017, a former representative of Odebrecht SA, the Brazilian partner of GRAM on a Peru-Brazil road project, told local news magazine Hildebrandt en sus trece that top executives of GRAM were aware of Odebrecht paying $20 million in bribes to former Peruvian President Alejandro Toledo in order to win construction projects in the country. On this news the price of GRAM shares fell over 34% to close at $3.32.
Since then, the Company announced its three top executives resigned amid the graft scandal.
“We’re concerned about the possible foreign corruption on the part of the Company or its executives, especially since the Defendants repeatedly stated GRAM abides by the highest corporate governance standards,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding GRAM should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. 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. For more information, call Reed Kathrein at 510-725-3000 or email GRAM@hbsslaw.com.
About Hagens Berman
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