SAN DIEGO, Sept. 08, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of Advanced Drainage Systems Inc (NYSE:WMS) over alleged Violations of Federal Securities Laws by Advanced Drainage Systems.
Investors who purchased shares of Advanced Drainage Systems Inc (NYSE:WMS) have certain options and for certain investors are short and strict deadlines running. Deadline: September 28, 2015. NYSE:WMS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that between September 5, 2014 and July 14, 2015, defendants issued allegedly materially false and misleading statements to investors and/or allegedly failed to disclose that Advanced Drainage Systems’ inventory values and cost of sales were misstated, that Advanced Drainage Systems’ transportation and equipment leases should be recorded as capital leases, and that as a result, Advanced Drainage Systems’ financial statements were materially false and misleading at all relevant times.
On July 15, 2015, Advanced Drainage Systems Inc announced the delay in filing of its 2015 annual report due to an ongoing review of the “methodologies utilized in its year-end inventory costing analysis and the related impact on the Company’s fiscal year 2015 financial statements.” Advanced Drainage Systems Inc further stated, that “the Company anticipates that the effect of this review will be a reduction of year-end inventory values for fiscal year 2015 as compared to previously reported amounts, and a related increase in cost of sales.”
Those who purchased NYSE: WMS shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
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.
CONTACT: Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
