SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of
Investors of Great Lakes Dredge & Dock Corporation -- GLDD
NEW YORK, March 15, 2013 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford
Dahlstrom & Gross LLP is investigating claims on behalf of investors of Great
Lakes Dredge & Dock Corporation ("Great Lakes" or the "Company") who purchased
Great Lakes common stock between May 4, 2012 and March 14, 2013 (the "Class
Period"). Such investors are advised to contact Robert S. Willoughby at
firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether Great Lakes and certain of its officers
and/or directors have violated Sections 10(b) and 20(a) of the Securities
Exchange Act of 1934.
On March 14, 2013 Great Lakes announced that its financial statements for the
quarterly periods ended June 30, 2012 and September 30, 2012 should no longer
be relied upon by investors and had to be restated. Great Lakes stated that
"certain pending change orders where client acceptance has not been finalized
were included as revenue." Consequently, it concluded that "2012 second and
third quarter demolition segment revenues were overstated by $3.9 million and
$4.3 million, respectively." Great Lakes also announced the departure of its
Chief Operating Officer and President Bruce J. Biemeck, who served as Chief
Financial Officer until August 20, 2012. On this news the price of Great
Lakes stock has fallen by over 20%.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida,
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 70 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.
CONTACT: Robert S. Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
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