May 20, 2013 Deadline Approaches in Investor Lawsuit against Great Lakes
Dredge & Dock Corp., Hagens Berman Reminds Investors
CHICAGO -- April 8, 2013
Hagens Berman Sobol Shapiro LLP today reminded investors of an upcoming May
20, 2013 deadline in the investor class-action lawsuit filed against Great
Lakes Dredge & Dock Corp. (NASDAQ: GLDD) (“GLDD” or “the Company”). Investors
can contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s
investigation, by calling (510) 725-3000 or by emailing GLDD@hbsslaw.com.
If you purchased shares of GLDD common stock between August 7, 2012, and March
14, 2013, inclusive (the “class period”), suffered significant losses and wish
to move to be a lead plaintiff in the pending class action, you can also
contact Mr. Kathrein by submitting information at
Investors who wish to serve as lead plaintiff in the case must move the court
no later than May 20, 2013. Any member of the putative class may move the
Court to serve as lead plaintiff through counsel of their choice, or may
choose to do nothing and remain an absent class member.
GLDD announced a restatement of financial results on March 14, 2013, impacting
both the second and third financial quarters of 2012. The company noted that,
“Certain pending change orders where client acceptance has not been finalized
were included as revenue. After a review, the Company concluded 2012 second
and third quarter demolition segment revenues were overstated by $3.9 million
and $4.3 million, respectively.” The company’s Chief Operating Officer and
President Bruce J. Biemeck also resigned.
On the news, GLDD’s stock price fell by approximately 30 percent, and
continues to trade below class period highs.
Hagens Berman is investigating this issue to determine whether the company’s
previous financial statements were unreliable or otherwise misleading, and if,
as a result, the company is liable for investor losses.
Hagens Berman reminds whistleblowers with inside information that rewards may
be available to individuals who report information leading to a successful
enforcement action by the Securities and Exchange Commission. Under the new
SEC whistleblower program, whistleblowers who provide original information may
receive rewards totaling up to 30 percent of any successful recovery made by
About Hagens Berman
Hagens Berman Sobol Shapiro, LLP is an investor-rights class-action law firm
with offices in 10 cities. The Firm represents investors, whistleblowers,
workers and consumers in complex litigation. More about the law firm and its
successes can be found at www.hbsslaw.com. The Firm’s securities law blog is
Firmani + Associates
Mark Firmani, 206-443 9357
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