Energy News / Shareholders Foundation, Inc.

NYSE: AZZ Investor Alert: Lawsuit Alleges False and Misleading Statements by AZZ Inc.

Via: ReleaseWire

Updated 10:03 AM CST, Thu, November 21,2019

A lawsuit was filed on behalf of investors in AZZ Inc. (NYSE: AZZ) shares over alleged securities laws violations. Deadline: January 3, 2020. NYSE: AZZ investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 11/21/2019 -- An investor, who purchased shares of AZZ Inc. (NYSE: AZZ), filed a lawsuit over alleged violations of Federal Securities Laws by AZZ Inc. in connection with certain allegedly false and misleading statements made between July 3, 2018 and October 8, 2019.

Investors who purchased shares of AZZ Inc. (NYSE: AZZ) have certain options and for certain investors are short and strict deadlines running. Deadline: January 3, 2020. NYSE: AZZ investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On May 17, 2019, AZZ Inc disclosed a material weakness in its internal control over financial reporting related to preparation and review of revenue reconciliations.
On May 20, 2019, before the market opened, AZZ Inc announced that it had replaced its independent auditor, BDO US, LLP, with Grant Thornton LLP.

On October 8, 2019, Azz Inc delayed its second quarter 2020 financial results "to allow the Company additional time to complete the review of the Form 10-Q for its fiscal year 2020 second quarter ended August 31, 2019."
On October 25, 2019, AZZ announced that its Chief Accounting Officer "will leave the Company effective October 31, 2019."

According to the complaint the plaintiff alleges on behalf of purchasers of AZZ Inc. (NYSE: AZZ) common shares between July 3, 2018 and October 8, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between July 3, 2018 and October 8, 2019, the Defendants failed to disclose to investors that the Company's internal controls over financial reporting were not effective, that the Company improperly implemented ASC 606 which resulted in improper revenue reconciliations, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of AZZ Inc. (NYSE: AZZ) 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.

For more information on this press release visit:
http://www.sbwire.com/press-releases/nyse-azz-investor-alert-lawsuit-alleges-false-and-misleading-statements-by-azz-inc-1265907.htm

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