Bernstein Liebhard LLP Announces That Approximately Five Weeks Remain To File A Motion For Lead Plaintiff In A Securities Class

Bernstein Liebhard LLP Announces That Approximately Five Weeks Remain To File
 A Motion For Lead Plaintiff In A Securities Class Action That Has Been Filed
                  Against Great Lakes Dredge & Dock Company

PR Newswire

NEW YORK, April 17, 2013

NEW YORK, April 17, 2013 /PRNewswire/ --Bernstein Liebhard LLP today
announced that approximately five weeks remain – until May 20, 2013 – to file
a motion for lead plaintiff in a securities class action that has been
commenced in the United States District Court for the Northern District of
Illinois on behalf of a class (the "Class") of purchasers of Great Lakes
Dredge & Dock Company ("Great Lakes" or the "Company") (NASDAQ: GLDD) common
stock between August 7, 2012 through March 14, 2013 (the "Class Period").

(Logo: http://photos.prnewswire.com/prnh/20120202/MM47134LOGO)

Great Lakes is the largest provider of dredging services in the U.S. and a
major provider of commercial and industrial demolition and remediation
services. After the close of markets on March 14, 2013, Great Lakes announced
that it would need to restate its second and third quarter 2012 results by
millions of dollars and that the Company's President/Chief Operating Officer
(who was also the former Chief Financial Officer through August 20, 2012) was
abruptly departing. Regarding the restatement, the Company disclosed that it
had identified instances in its demolition segment where revenue was
recognized in a manner inconsistent with the Company's accounting policy, in
that certain pending change orders where client acceptance was not finalized
were included as revenue. Great Lakes also disclosed that it would be
reporting a material weakness in its internal controls over financial
reporting.

In reaction to the news, Great Lakes' shares fell 18%, from $8.97 per share on
March 14, 2013 to $7.355 per share on March 15, 2013, on unusually heavy
trading volume.

Plaintiffs seek to recover damages on behalf of all Class members who invested
in Great Lakes stock during the Class Period. If you invested in Great Lakes
stock as described above during the Class Period, and either lost money on the
transaction or still hold the stock, you may wish to join in this action to
serve as lead plaintiff. In order to do so, you must meet certain
requirements set forth in the applicable law and file appropriate papers no
later than May 20, 2013.

A "lead plaintiff" is a representative party that acts on behalf of other
class members in directing the litigation. In order to be appointed lead
plaintiff, the court must determine that the class member's claim is typical
of the claims of other class members, and that the class member will
adequately represent the class. Under certain circumstances, one or more
class members may together serve as lead plaintiff. Your ability to share in
any recovery is not, however, affected by the decision whether or not to serve
as a lead plaintiff. You may retain Bernstein Liebhard LLP, or other counsel
of your choice, to serve as your counsel in this action.

If you are interested in discussing your rights as a Great Lakes shareholder
and/or have information relating to the matter, please contact Joseph R.
Seidman, Jr. at (877) 779-1414 or seidman@bernlieb.com.

Bernstein Liebhard LLP has pursued hundreds of securities, consumer and
shareholder rights cases and recovered over $3 billion for its clients. It
has been named to The National Law Journal's "Plaintiffs' Hot List" in each of
the last ten years.

You can obtain a copy of the complaint from the clerk of the court for the
United States District Court for the Northern District of Illinois.

Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com

ATTORNEY ADVERTISING. © 2013 Bernstein Liebhard LLP. The law firm responsible
for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New
York, New York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of Connecticut is Michael S. Bigin. Prior results
do not guarantee or predict a similar outcome with respect to any future
matter.

Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
seidman@bernlieb.com

SOURCE Bernstein Liebhard LLP

Website: http://www.bernlieb.com/
 
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