Great Lakes Dredge Shareholder Alert: Briscoe Law and Powers Taylor
Investigate Possible Breaches of Fiduciary Duty by Officers and Directors
DALLAS -- April 8, 2013
Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation
firm of Powers Taylor, LLP announce that a federal class action lawsuit has
been filed against Great Lakes Dredge & Dock Corporation (“Great Lakes” or
“Company”) (NasdaqGS: GLDD). The firms are investigating additional legal
claims against the officers and Board of Directors of Great Lakes during the
period of August 7, 2012 to March 14, 2013 (the “Class Period”).
If you are an affected investor and you want to learn more about the lawsuit
or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC,
(214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary
Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
firstname.lastname@example.org. There is no cost or fee to you.
In a recently filed federal class action complaint, Great Lakes and certain of
its officers were charged with violating certain provisions of the Securities
Exchange Act of 1934. Specifically, the complaint alleges that defendants
misrepresented and/or failed to disclose that: (a) the Company realized that
certain change orders in its demolition segment awaiting client acceptance
were included as revenue resulting in an overstatement of revenue by millions
of dollars in revenue; and (b) there was weakness in the Company’s internal
controls to detect or prevent misstatements in its financial statements.
According to the complaint, when the Company announced that when these facts
came to light and the Company would be required to restate its 2^nd and 3^rd
quarter revenues, the stock plummeted.
“Recent revelations about alleged improper business practices and procedures
regarding key aspects of Great Lakes’ business and other misleading financial
statements have prompted the firms to investigate possible breaches of
fiduciary duties and other violations of state law by Great Lakes’ officers
and directors. Based on our investigation, we are prepared to pursue
litigation to preserve the company and the value of Great Lakes stock for all
shareholders,” said shareholder rights attorney Willie Briscoe.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial
transaction, and public advocacy firm with more than 20 years of experience in
complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of
complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits, and
security class actions.
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-239-4568
Powers Taylor, LLP
Zachary Groover, 877-728-9607
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