RADNOR, Pa., Oct. 31, 2018 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that a class action lawsuit has been filed against
Dycom Industries, Inc. (NYSE: DY) (“Dycom” or the “Company”) on behalf of purchasers of the Company’s common stock
between November 20, 2017 and August 10, 2018, inclusive (the “Class Period”).
Investors who purchased Dycom’s common stock during the Class Period and suffered a financial loss in excess of $100,000 are
encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740, or skaskela@kaskelalaw.com, for additional information about this action and their legal rights and
recovery options. Additional information about this action may also be found at http://kaskelalaw.com/case/dycom/.
The class action complaint alleges that defendants made materially false and misleading statements during the Class Period, and
failed to disclose to investors that: (i) Dycom’s new large projects were highly dependent on permitting and tactical
considerations, (ii) Dycom was facing great uncertainties related to permitting issues; and (iii) those uncertainties would expose
Dycom to near-term margin pressure and absorption issues. The complaint further alleges that, as a result of the foregoing,
investors purchased Dycom’s common stock at artificially inflated prices during the Class Period and suffered investment losses as
a result of defendants’ conduct.
As detailed in the complaint, on May 22, 2018, Dycom’s CEO disclosed that the Company did not have enough work in hand to absorb
the costs it had already incurred associated with its new large projects, mainly because Dycom was facing great uncertainties
related to permitting issues. Following this news, shares of Dycom’s common stock declined $23.56, or over 20%,
to close on May 22, 2018 at $92.64 per share.
Then, on August 13, 2018, Dycom announced disappointing quarterly financial results and reduced its financial guidance.
Following this additional news, shares of Dycom’s common stock dropped $21.62 per share, or over 24%, to close on
August 13, 2018 at $68.09 per share.
IMPORTANT DEADLINE: Investors who purchased Dycom’s common stock during the Class Period may,
no later than December 24, 2018, seek to be appointed as a lead plaintiff representative of
the investor class.
Investors who purchased Dycom’s common stock during the Class Period and suffered a financial loss in excess of $100,000 are
encouraged to contact Kaskela Law LLC for additional information about this action and their legal rights and recovery
options. Kaskela Law LLC exclusively represents investors in state and federal courts throughout the country. For
additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
201 King of Prussia Road
Suite 650
Radnor, PA 19087
(484) 258 – 1585
(888) 715 – 1740
skaskela@kaskelalaw.com
www.kaskelalaw.com
