NEW ORLEANS, March 1, 2019 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds 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.
Astec investors should visit us at https://www.claimsfiler.com/cases/view-astec-industries-inc-securities-litigation or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
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.
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