WILMINGTON, Del., Oct. 21, 2015 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Great Lakes Dredge & Dock Corp. (NASDAQ: GLDD)?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that it has commenced an investigation of Great Lakes Dredge & Dock Corp. ("Great Lakes" or the "Company") for possible violations of the federal securities laws by the Company and certain of its officers and directors.
On October 14, 2015, the Company announced that Senior Vice President, Chief Legal Officer, and Corporate Secretary Maryann A. Waryjas would be resigning effective November 10, 2015. Two days later, on October 16, 2015, Great Lakes announced that Nathan D. Leight, director and Chairman of the Board, and Denise E. Dickins, director and Chair of the Audit Committee, had tendered their resignations effective as of October 13, 2015. That same day, Great Lakes announced that it was withdrawing its previously announced Adjusted EBITDA guidance for the year ending December 31, 2015, and had "initiated a process to review potential strategic alternatives to enhance stockholder value." The Company further announced that Chief Executive Officer and director Jonathan W. Berger intended to retire in 2017. On October 19, 2015, the first trading day following withdrawal of Great Lakes' Adjusted EBITDA guidance, the price of the Company's common stock fell to a close of $4.22 per share from a close of $5.33 per share on October 16, 2015, the previous trading day.
If you purchased shares of Great Lakes and wish to discuss this investigation, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail at [email protected]; or at: http://rigrodskylong.com/investigations/great-lakes-dredge-dock-gldd.
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SOURCE Rigrodsky & Long, P.A.