BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Dycom Industries, Inc. (“Dycom” or the “Company”) (NYSE: DY) securities between November 20, 2017 and August 10, 2018, inclusive (the “Class Period”). Dycom investors have until December 24, 2018 to file a lead plaintiff motion.
Investors suffering losses on their Dycom investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
The investigation concerns possible violations of federal securities laws. On August 13, 2018, Dycom announced disappointing results for the quarter ended July 28, 2018, and announced it would negatively revise its financial guidance for fiscal 2019. Following this news, shares of Dycom fell more than 24% to close at $68.09 per share on August 13, 2018, thereby injuring investors.
The Complaint filed in this class action alleges that the Company made false and misleading statements to the market. Dycom's large projects were extremely dependent on government permitting and other tactical considerations. The Company faced considerable uncertainty specific to permitting. Based on this uncertainty, Dycom faced near-term margin pressures, amongst other problems. Based on these facts, the Company's public statements were false and materially misleading throughout the class period.
If you purchased shares of Dycom, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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