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Granite Construction Incorporated (NYSE:GVA) Investor Alert: Lawsuit Alleges Securities Laws Violations

Via: ReleaseWire

Updated 11:15 AM CDT, Wed, August 28,2019

A lawsuit was filed on behalf of investors in Granite Construction Incorporated (NYSE: GVA) shares over alleged securities laws violations.

San Diego, CA -- (SBWIRE) -- 08/28/2019 -- An investor, who purchased NYSE: GVA shares filed a lawsuit against Granite Construction Incorporated over alleged Securities Laws Violations.

Investors who purchased shares of Granite Construction Incorporated (NYSE: GVA) have certain options and for certain investors are short and strict deadlines running. Deadline: October 14, 2019. NYSE: GVA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Watsonville, CA based Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. On July 29, 2019, after the market closed, Granite Construction Incorporated disclosed that second quarter 2019 financial results were negatively impacted by non-cash charges related to four legacy, unconsolidated heavy civil joint venture projects. As a result, Granite Construction Incorporated said it expected to report net loss per diluted share in the range of $2.05 to $2.10 per diluted share.

The plaintiff claims that between October 26, 2018 and August 1, 2019, the Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company had assumed certain risks in connection with its heavy civil joint venture projects bid between 2012 and 2014; (2) that there was an "untenable" imbalance of risk sharing between the Company and the joint venture project owners; (3) that, as a result, the Company was reasonably likely to incur additional project costs for its joint venture projects; (4) the Company was reasonably likely to incur additional costs in connection with certain project disputes; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Granite Construction Incorporated (NYSE: GVA) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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http://www.sbwire.com/press-releases/granite-construction-incorporated-nysegva-investor-alert-lawsuit-alleges-securities-laws-violations-1257849.htm

Media Relations Contact
Michael Daniels
1-858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com