Block & Leviton LLP Investigates Great Lakes Dredge & Dock Corporation for Possible Violations of the Federal Securities Laws
BOSTON, March 15, 2013 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, is investigating possible securities law violations involving Great Lakes Dredge & Dock Corp. ("GLDD" or the "Company") (NASDAQ: GLDD).
Just after the close of trading on Thursday, March 14, 2013, GLDD announced that it would restate its second and third quarter 2012 financial results due to improper revenue recognition. The Company also announced that the restatement would delay the filing of its 2012 Form 10-K. As a result of the announced restatement, the Company's second quarter 2012 revenues were reduced by $3.9 million and the third quarter 2012 revenues were reduced by $4.3 million. The Company further announced that $5.6 million of fourth quarter revenue also failed to meet revenue recognition standards.
The Company's press release also announces the departure of the Company's President and Chief Operating Officer, Bruce J. Biemeck , effective March 13, 2013.
The Company's stock has plummeted on this news, falling from a close of $8.97 on Thursday to $5.75 in after hours trading, a decline of more than 35%.
Block & Leviton's investigation seeks to determine, among other things, whether GLDD or its officers and directors have violated the federal securities laws. If you have any information relevant to this investigation, or have questions about your legal rights, please contact Block & Leviton LLP.
Block & Leviton is a Boston-based law firm representing investors for violations of securities laws. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.
This notice may constitute attorney advertising.
|
Contact: |
BLOCK & LEVITON LLP |
|
Steven P. Harte, Esq. | |
|
(617) 398-5600 | |
|
Jason M. Leviton, Esq. | |
|
(617) 398-5600 | |
SOURCE Block & Leviton LLP
RELATED LINKS
http://www.blockesq.com
More by this Source
Block & Leviton LLP Investigates Pioneer Southwest Energy Partners L.P. for Possible Breaches of Fiduciary Duty in Connection With Its Potential Going Private Transaction
May 08, 2013, 13:56 ET
Block & Leviton LLP Investigates Chemed Corporation for Possible Violations of the Federal Securities Laws
May 03, 2013, 14:54 ET
Block & Leviton LLP files a securities class action lawsuit against Harvest Natural Resources, Inc. and certain of its officers and directors
Apr 24, 2013, 18:28 ET
Featured Video
Journalists and Bloggers
Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.
View and download archived video content distributed by MultiVu on The Digital Center.
Custom Packages
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.