NEW YORK, May 14, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of investors who acquired Great Lakes Dredge & Dock Corporation ("Great Lakes" or "the Company") (Nasdaq:GLDD) stock between August 7, 2012 and March 14, 2013.
For more information, click here: http://zlk.9nl.com/great-lakes-dredge-dock-gldd/.
On March 14, 2013, Great Lakes announced that it would restate its second and third quarter 2012 results by millions of dollars and that the Company's President/Chief Operating Officer (who was formerly Chief Financial Officer of the Company) was abruptly departing. The Company disclosed that it had identified instances where revenue was recognized in a manner inconsistent with the Company's accounting policy in that certain pending change orders where client acceptance was not finalized were included as revenue. Great Lakes also disclosed that it will be reporting a material weakness in its internal controls concerning financial reporting. Upon this news, shares of Great Lakes stock fell 18%, to close at $7.35 per share the following day.
If you suffered a loss in Great Lakes you have until May 20, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/great-lakes-dredge-dock-gldd/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.