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 Texas on behalf of investors who purchased AZZ Inc. (NYSE : AZZ) securities between April 22, 2015 and January 8, 2018.
According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company misstated revenues for its Energy Segment for the duration of the Class Period; (ii) the Company failed to report revenues in compliance with FASB Accounting Standards; (iii) the Company lacked adequate internal controls over financial reporting; (iv) its purported efforts to evaluate revenue recognition standards had been an apparent failure; and that (v) as a result of the foregoing, AZZ's financial statements were materially false and misleading. On January 9, 2018, AZZ disclosed the determination that the Company “historically should have accounted differently for certain contracts within its Energy Segment." As a result, AZZ is reviewing the impact of this determination on its historical accounting and financial results from 2015 through 2017 and announced it is delaying the release of its Form 10-Q for the quarter ended November 30, 2017.
If you suffered a loss in AZZ Inc. you have until March 12, 2018 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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