SHAREHOLDER ALERT: Levi & Korsinsky Notifies Investors with Losses on Their
Investment in Great Lakes Dredge & Dock Corporation of Class Action Lawsuit
and the Deadline of May 20, 2013 to Seek a Lead Plaintiff Position
NEW YORK, May 7, 2013
NEW YORK, May 7, 2013 /PRNewswire/ --Levi & Korsinsky announces that a class
action lawsuit has been commenced in the United States District Court for the
Northern District of Illinois on behalf of investors who acquired Great Lakes
Dredge & Dock Corporation ("Great Lakes" or "the Company") (Nasdaq: GLDD)
stock between August 7, 2012 and March 14, 2013.
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On March 14, 2013, Great Lakes announced that it would restate its second and
third quarter 2012 results by millions of dollars and that the Company's
President/Chief Operating Officer (who was formerly Chief Financial Officer of
the Company) was abruptly departing. The Company disclosed that it had
identified instances 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 will be reporting a material weakness in its
internal controls concerning financial reporting. Upon this news, shares of
Great Lakes stock fell 18%, to close at $7.35 per share the following day.
If you suffered a loss in Great Lakes you have until May 20, 2013 to request
that the Court appoint you as lead plaintiff. Your ability to share in any
recovery doesn't require that you serve as a lead plaintiff. To obtain
additional information, contact Joseph E. Levi, Esq. either via email at
firstname.lastname@example.org or by telephone at (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in New York, New Jersey and
Washington D.C. The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. Attorney advertising. Prior
results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
SOURCE Levi & Korsinsky, LLP
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