LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased U.S. Concrete, Inc. (“U.S. Concrete” or the “Company”) (NASDAQ: USCR) securities between March 6, 2015 and March 23, 2017, inclusive (the “Class Period”). U.S. Concrete investors have until May 29, 2017 to file a lead plaintiff motion.
Investors suffering losses on their U.S. Concrete investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to email@example.com.
On March 24, 2017, U.S. Concrete announced the resignation of the Company's Chief Financial Officer, Joseph Tusa, and informed investors that the Company had dismissed its previous auditor, Grant Thornton, and hired Ernst & Young as its new public accounting firm. The Company has also informed investors that U.S. Concrete’s internal control over financial reporting wasn’t effective due to a material weaknesses. On this news, shares of U.S. Concrete fell to just $61.95 per share as of April 5, 2017.
According to the complaint filed in this class action, U.S. Concrete made false and misleading statements and/or failed to disclose that the Company lacked effective internal controls over financial reporting, and thus its public statements were materially false and misleading at all relevant times. On March 24, 2017, U.S. Concrete filed a Current Report on Form 8-K with the Securities & Exchange Commission, announcing the resignation of its CFO, Joseph Tusa, and advising investors that the Company replaced its previous auditor, Grant Thornton LLP, with Ernst & Young LLP as its new public accounting firm.
If you purchased shares of U.S. Concrete during the Class Period you may move the Court no later than May 29, 2017 to ask the Court to appoint you as lead plaintiff of this class action if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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