SAN DIEGO, May 6, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a deadline to get actively involved is coming up on May 20, 2013 in the lawsuit filed on behalf of certain investors in shares of Great Lakes Dredge & Dock Corporation (GLDD) over alleged Violations of Federal Securities Laws by Great Lakes Dredge & Dock Corporation in connection with certain allegedly false and misleading statements made between August 7, 2012 and March 14, 2013.
If you purchased a significant amount of common stock of Great Lakes Dredge & Dock Corporation (GLDD) between and / or if you purchased GLDD shares prior to August 2012 and currently hold any of those shares, you have certain options and you should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The plaintiff alleges on behalf of investors who purchased or otherwise acquired the common stock of the Great Lakes Dredge & Dock Corporation (GLDD) during the period from August 7, 2012 through March 14, 2013, that Great Lakes Dredge & Dock Corporation and certain of its officers violated the Securities Exchange Act of 1934.
More specifically, the plaintiff alleges that defendants made false and misleading statements and failed to disclose that it had recognized revenue in a manner not consistent with its accounting policy in that certain pending change orders where client acceptance was not finalized were included as revenue. In addition, the Company failed to disclose material weakness in its internal controls to detect or prevent misstatements in its financial statements.
On March 14, 2013, Great Lakes Dredge & Dock Corporation announced that its financial statements for the quarterly periods ended June 30, 2012 and September 30, 2012 should no longer be relied upon by investors and had to be restated.
Shares of Great Lakes Dredge & Dock Corporation declined from $9.96 per share on March 08, 2013, to as low as $6.31 on April 17, 2013.
The plaintiff seeks to recover damages.
Those who purchased shares of Great Lakes Dredge & Dock Corporation have certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.