The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, and failed that: (1) Graña was aware that its Brazilian partner Odebrecht S.A. paid bribes to former Peruvian President Alejandro Toledo to win construction work on a road traveling from Peru to Brazil; and (2) consequently, defendants' statements about Graña's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On February 24, 2017, local news magazine Hildebrandt en sus trece revealed that Graña y Montero was aware of $20 million in bribes conferred to former President Alejandro Toledo by Brazilian firm Odebrecht SA. Graña was one of Odebrecht's local partners on two sections of a project to pave a road from the Peruvian Amazon to Brazil. Following this news, Graña shares dropped $1.77 per share or over 34% to close $3.32 on February 24, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/gram or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Graña y Montero S.A.A. you have until April 28, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC