The Rosen Law Firm, P.A. announces that it is investigating securities claims against Great Lakes Dredge & Dock Corporation (Nasdaq: GLDD) to recover shareholder losses stemming from inaccurate financial statements.
On March 14, 2013 GLDD announced that its financial statements for the quarterly periods ended June 30, 2012 and September 30, 2012 should no longer be relied upon by investors and had to be restated. GLDD stated that “certain pending change orders where client acceptance has not been finalized were included as revenue.” Consequently, it concluded that “2012 second and third quarter demolition segment revenues were overstated by $3.9 million and $4.3 million, respectively.” GLDD also announced the departure of its Chief Operating Officer and President Bruce J. Biemeck, who served as Chief Financial Officer until August 20, 2012. This adverse information caused the price of GLDD stock to fall over 20%.
The Rosen Law Firm is investigating securities claims as a result of this adverse information. If you purchased GLDD’s securities prior to March 14, 2013 you may visit the website at
to join the prospective action. You may also contact Phillip Kim or Kevin Chan of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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Contact Information:Laurence Rosen, Esq.Phillip Kim, Esq.The Rosen Law Firm P.A.275 Madison Avenue 34
FloorNew York, New York 10016Tel: (212) 686-1060Weekends Tel: (917) 562-8616Toll Free: 1-866-767-3653Fax: (212) 202-3827