Morgan & Morgan Announces That a Class Action Lawsuit Has Been Filed Against Willbros Group, Inc. -- WG


NEW YORK,, Oct. 31, 2014 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of investors who purchased Willbros Group, Inc. ("Willbros" or the "Company") (NYSE:WG) securities between August 4, 2013 through October 21, 2014.

If you want more information about the Willbros Group, Inc. Securities Class Action, please contact Morgan & Morgan at 1-800-732-5200 or email info@morgansecuritieslaw.com

If you purchased Willbros securities during the Class Period, you may, no later than December 29, 2014, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any member of the purported 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.

The complaint alleges that the Company made materially false and/or misleading statements and/or failed to disclose material adverse facts regarding the Company's business, operations, and prospects.

On October 21, 2014 the Company announced it would restate certain financial statements after identifying $22 to $24 million in losses caused by the deterioration of a "significant pipeline construction project." The Company also noted that its Audit Committee is evaluating the sufficiency of Willbros' internal controls. Following this news, the Company's stock price declined from $7.65 per share on October 21, 2014 to $4.90 per share on October 22, 2014, a one-day loss of approximately 35%.

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