A lawsuit was filed on behalf of investors in AZZ Inc (NYSE:AZZ) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 01/31/2018 -- An investor, who purchased NYSE:AZZ shares, filed a lawsuit against AZZ Inc. over alleged Securities Laws violations in connection with certain allegedly false and misleading statements.
Investors who purchased shares of AZZ Inc (NYSE:AZZ) should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On January 9, 2018, AZZ announced that upon the recommendation of the Company's management and in consultation with the Company's Audit Committee and independent registered public accounting firm, BDO USA, LLP, on January 4, 2018 determined that the Company historically should have accounted differently for certain contracts within its Energy Segment. As a result, AZZ is reviewing the impact of this change on its historical accounting and financial results from 2015 through 2017 and announced it is delaying the release of its Form 10-Q for the quarter ended November 30, 2017. Shares of AZZ Inc (NYSE:AZZ) declined on January 9, 2018 to $45.70 per share.
The plaintiff claims that between April 22, 2015 and January 8, 2018, the defendants repeatedly misrepresented their financial results, failed to report revenues in compliance with FASB accounting standards, lacked adequate controls over financial reporting and failed to disclose the failure of more than two years of purported efforts to evaluate new accounting standards.
Those who purchased shares of AZZ Inc (NYSE:AZZ) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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