Securities Fraud Investigation Into Construction Partners, Inc. (ROAD) Announced – Investors Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Construction Partners, Inc. (“Construction Partners” or the “Company”) (NASDAQ: ROAD) on behalf of investors concerning the Company’s possible violations of federal securities laws.

IF YOU ARE AN INVESTOR WHO LOST MONEY ON CONSTRUCTION PARTNERS, INC. (ROAD), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS.

What Is The Investigation About?

On January 23, 2025, Spruce Point Research published a report alleging, among other things, that Construction Partners exhibits “poor transparency around financial and operational reporting” including “[h]igh DSOs relative to industry [which] is often a harbinger of financial restatement risk and/or weak internal controls.”

The Spruce Point report further states that “through a FOIA request” it found “evidence that Florida DOT revenues may have peaked and awarded contracts apparently declined by -22% in 2024.” The report also states that Spruce Point “FOIAed the Texas DOT and f[ou]nd no contracts awarded or purchase orders to” the Company’s recently acquired Texas subsidiary “in the last 24 months.” The report alleged the Company may have “misevaluated who is the actual customer in its business dealings” with the Texas Department of Transportation, resulting in “the potential that revenue has been inaccurately recorded.”

On this news, Construction Partners’ stock price fell $10.20, or 11%, to close at $82.58 per share on January 23, 2025, thereby injuring investors.

Contact Us To Participate or Learn More:

If you purchased Construction Partners securities, 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 us:
The Law Offices of Frank R. Cruz
2121 Avenue of the Stars, Suite 800
Century City, California 90067
Call us at: 310-914-5007
Email us at: [e-mail]
Visit our website at: www.frankcruzlaw.com.
Follow us for updates on Twitter at twitter.com/FRC_LAW.

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.