The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Granite Construction Incorporated (NYSE: GVA) securities between October 26, 2018 and August 1, 2019.
According to the Granite lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company had assumed certain risks in connection with its heavy civil joint venture projects bid between 2012 and 2014; (2) there was an “untenable” imbalance of risk sharing between the Company and the joint venture project owners; (3) as a result, the Company was reasonably likely to incur additional project costs for its joint venture projects; (4) the Company was reasonably likely to incur additional costs in connection with certain project disputes; and (5) 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.
If you suffered a loss in Granite you have until October 15, 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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