Law Offices of Todd M. Garber Announces Investigation of Great Lakes Dredge & Dock Corporation

  Law Offices of Todd M. Garber Announces Investigation of Great Lakes Dredge
  & Dock Corporation

Business Wire

LOS ANGELES -- April 13, 2013

The Law Offices of Todd M. Garber announces that it is investigating potential
claims against Great Lakes Dredge & Dock Corporation (“Great Lakes” or the
“Company”) (NASDAQ:GLDD) concerning possible violations of federal securities
laws. Great Lakes engages in marine construction, dredging, and commercial and
industrial demolition primarily in the east, west and Gulf Coasts of the
United States.

The investigation is related to allegations that between August 7, 2012 and
March 14, 2013 the Company and certain of its executive officers issued false
and misleading statements or failed to disclose: (1) that the Company was
accounting pending change orders as revenue where client acceptance had yet to
be finalized; (2) that, as such, the Company was improperly recognizing
revenue for its demolition segment; (3) that the Company’s revenue was
overstated; (4) that the Company’s financial results were not prepared in
accordance with Generally Accepted Accounting Principles (“GAAP”); (5) that
the Company lacked adequate internal and financial controls; and (6) as a
result of the foregoing, that the Company’s financial statements were
materially false and misleading at all relevant times.

On March 14, 2013, after the close of trading, the Company disclosed that it
would restate its financial results for the Company’s 2012 fiscal second and
third quarters. According to the Company, Great Lakes had been improperly
recording revenue recognition by accounting pending change orders as revenue
where client acceptance had yet to be finalized. The Company also announced
that the restatement would delay the filing of its 2012 Annual Report.

If you purchased Great Lakes securities between August 7, 2012 and March 14,
2013, if you have information or would like to learn more about these claims,
or if you wish to discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these matters, please
contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by
telephone at 213-700-7262 or by email to info@toddgarberlaw.com.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

Contact:

Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California
213-700-7262
info@toddgarberlaw.com
 
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