The law firm of Wohl & Fruchter LLP announces that it is investigating possible violations of federal securities laws by officers and directors of Tetra Tech Inc. (TTEK) (NASDAQ: TTEK).
TTEK provides consulting, engineering, program management, construction management, and technical services for the water, environment, energy, infrastructure, and natural resources sectors.
On May 2, 2013, TTEK held a conference call for analysts and investors to discuss the Company’s 2013 second quarter earnings. During the call, Dan L. Batrack, TTEK’s Chairman and Chief Executive Officer, noted that the mining industry, especially in the regional markets in Eastern Canada, was experiencing significant challenges that were impacting TTEK’s operations and financial performance. Nevertheless, during the call, based on TTEK’s performance during the second quarter, and management’s evaluation of the Company’s business trends and prospects, Batrack forecast net revenue of $525 million to $575 million, and diluted earnings per share of $0.32 to $0.42, for the third quarter of 2013.
On June 18, 2013, TTEK announced that it expected to lose $0.30 to $0.50 cents per share during the third quarter as it absorbs about $95 million in charges due in part to a reduction in the size of its eastern Canadian and mining operations because of weak demand.
Upon the above news, TTEK dropped nearly 13% from a close of $26.73/share on June 18, 2013, to $23.30/share shortly after noon during trading on June 19, 2013.
Persons with relevant information, and TTEK shareholders with questions about this investigation, are invited to contact the attorney below, or our Firm by calling 866.582.8140.
Additional information, including a copy of a transcript of the 2Q 2013 earnings call provided by Seeking Alpha, is available on our website at:
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