NEW YORK, April 26, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Orion Group Holdings, Inc. (NYSE: ORN) from March 13, 2018 through March 26, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Orion investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than June 10, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation http://zhanginvestorlaw.com/join-action-form/?slug=orion-group-holdings-inc&id=1829 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 info@zhanginvestorlaw.com, slee@zhanginvestorlaw.com for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Orion had overstated goodwill in certain periods; (2) Orion had overstated accounts receivable in certain periods; (3) Orion lacked effective internal control over financial reporting, including over goodwill impairment testing and allowance for doubtful accounts; (4) that, as a result, the required adjustments would materially impact Orion’s financial results; and (5) as a result of the foregoing, Orion’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
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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