The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Tennessee on behalf of purchasers of Astec Industries, Inc. (NASDAQ: ASTE) shares between July 26, 2016 and October 22, 2018.
According to the complaint, defendants made false and misleading statements and/or failed to disclose adverse information regarding Astec’s business, operations and prospects, including that its wood pellet plants suffered from significant and costly problems that prevented them from running at their promised production capacity, posing a threat to the Company’s pellet plant business, its overall financial performance, and its financial outlook. As a result of this information being withheld from the market, the price of Astec stock was artificially inflated to a high of nearly $70 per share during the Class Period.
If you suffered a loss in Astec you have until April 2, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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