NEW ORLEANS, Feb. 22, 2019 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 2, 2019 to file lead plaintiff applications in a securities class action lawsuit against Astec Industries, Inc. (NasdaqGS: ASTE), if they purchased the Company's shares between July 26, 2016 and October 22, 2018, inclusive (the "Class Period"). This action is pending in the United States District Court for the Eastern District of Tennessee.
What You May Do
If you purchased shares of Astec and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-aste/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 2, 2019.
About the Lawsuit
Astec and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 23, 2018, the Company disclosed a wide range of disappointing financial results for 3Q2018 including a decrease in domestic sales of 1.2% and a 28.1% decline in domestic backlog and for 2018, core revenue growth forecast slashed from 7%-12% to 1%-3% as well as revenue and earnings per share well below analysts' expectations.
On this news, the price of Astec's shares plummeted.
The case is City of Taylor General Employees Retirement System v. Astec Industries, Inc., et al., 19-cv-0002.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC