Levi & Korsinsky is investigating potential claims on behalf of purchasers of Tetra Tech, Inc. (“Tetra” or the “Company”) (Nasdaq: TTEK) stock.
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On a May 2, 2013 conference call, Dan Batrack, the Company’s Chairman and CEO, noted that the mining industry, especially in the regional markets in Eastern Canada, was experiencing significant challenges that were impacting the Company'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, with associated diluted earnings per share of $0.32 to $0.42, for the third quarter of 2013.
On June 18, 2013, Tetra announced it would suffer a diluted loss of between $0.30 and $0.50 per share in the fiscal third quarter due to approximately $95 million in charges. According to the Company, these charges are due in part to “restructuring costs associated with its Eastern Canadian and mining operations” and charges related to the resolution of “certain project claims” concerning certain government customers. Upon this news shares of Tetra fell from a close of $26.73 on June 18, 2013, to $23.09 per share the following day.If you own Tetra stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/tetra-tech-ttek/. Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.