LOS ANGELES, April 24, 2017 /PRNewswire/ -- Lundin Law PC , a shareholder rights firm, announces a class action lawsuit against Graña y Montero S.A.A. ("Graña y Montero" or the "Company") (NYSE: GRAM) concerning possible violations of federal securities laws between July 24, 2013 and February 24, 2017 inclusive (the "Class Period"). Investors who purchased or otherwise acquired the shares during the Class Period should contact the firm prior to the April 28, 2017 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, Graña y Montero made false and/or misleading statements and/or failed to disclose: that the Company 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 as a result, the Company's statements about its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On February 24, 2017, Reuters published an article highlighting a report that Graña y Montero knew about $20 million in bribes paid to former Peruvian President Alejandro Toledo by its partner Odebrecht. When this information reached the public, the Company's stock price declined significantly.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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SOURCE Lundin Law PC