SAN DIEGO, CA / ACCESSWIRE / July 15, 2020 / The Shareholders Foundation, Inc. announces that a that a lawsuit is pending for certain investors in Granite Construction Incorporated (NYSE:GVA) shares.
Investors, who purchased shares of Granite Construction Incorporated (NYSE: GVA) in August 2018 or earlier and continue to hold any of those NYSE: GVA shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On August 13, 2019, a lawsuit was filed against Granite Construction Incorporated over alleged securities laws violations. The plaintiff alleged, that the Defendants made false and/or misleading statements and/or failed to disclose that the Company had assumed certain risks in connection with its heavy civil joint venture projects bid between 2012 and 2014, that there was an "untenable" imbalance of risk sharing between the Company and the joint venture project owners, that, as a result, the Company was reasonably likely to incur additional project costs for its joint venture projects, that the Company was reasonably likely to incur additional costs in connection with certain project disputes, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects and prospects were materially misleading and/or lacked a reasonable basis.
On February 20, 2020, an amended complaint was filed and on March 26, 2020, the defendants filed a Motion to Dismiss the amended complaint.
On May 20, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.
Those who purchased Granite Construction Incorporated (NYSE: GVA) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.
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