15 Days Remain before May 20, 2013, Lead Plaintiff Deadline in Investor
Lawsuit against Great Lakes Dredge & Dock Corp., Hagens Berman Reminds
CHICAGO -- May 6, 2013
Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, today
informed investors that only 15 days remain before the 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.
On March 14, 2013, GLDD announced a restatement of its financial results,
impacting both the second and third financial quarters of 2012. In its
statement, 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.”
GLDD’s announcement was followed by the resignation of Bruce J. Biemeck, the
company’s President and Chief Operating Officer.
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, including Chicago. 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 at http://www.meaningfuldisclosure.com.
Firmani + Associates
Mark Firmani, 206-443-9357
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