Federman & Sherwood Announces
the Filing of a Securities Class Action Lawsuit against Willbros Group, Inc.
City, OK (October
31, 2014) – On October
28, 2014, a securities class action lawsuit was filed in the United
States District Court for the Southern District of Texas (Houston Division) against Willbros
Group, Inc. (NYSE: WG).
The complaint alleges violations of federal securities laws, Sections
10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5,
including allegations of issuing a series of material or false misrepresentations
which had the effect of artificially inflating the market price during the
Class Period, which is August 4,
2014 through October
21, 2014. This litigation
was filed because the Company made false and/or misleading statements relating
to the Company’s financial condition. More specifically, after the market
closed on October 21, 2014, the Company announced that its second quarter
financial results had to be restated requiring the Company to reverse $8
million in pre-tax income and record approximately $14-16 million in estimated
pre-tax losses at completion. On this
announcement, the Company’s shares fell $2.75 per share, closing at $4.90 per
share on October 22, 2014.
seeks to recover damages on behalf of all Willbros
Group, Inc. shareholders who purchased common stock during the Class
Period and are therefore a member of the Class as described above. You may move the Court no later than Monday,
December 29, 2014 to serve as a lead plaintiff for the entire
Class. However, in order to do so, you
must meet certain legal requirements pursuant to the Private Securities
Litigation Reform Act of 1995.
join this class action, click here
to obtain an investor certification. Once complete, please email this
form to firstname.lastname@example.org, fax to us at (405) 239-2112 or send by regular mail to
Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK
73120, ATTN: Robin.
Posted on Fri, October 31, 2014
by Robin Hester filed under