NEW YORK, Aug. 24, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Granite Construction Incorporated ("Granite" or the "Company") (NYSE: GVA). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Granite and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 29, 2019, post-market, Granite announced its preliminary financial results for the second quarter of 2019. Disclosing a net loss per diluted share in the range of $2.05 to $2.10 for the quarter and revising its fiscal year 2019 guidance, Granite stated that its results were impacted by non-cash charges related to four legacy, unconsolidated heavy civil joint venture projects.
On this news, Granite's stock price fell $7.98 per share, or 17.94%, to close at $36.49 per share on July 30, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP