BOSTON, April 30, 2015 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), is investigating whether Installed Building Products, Inc. ("IBP" or the "Company") (NYSE: IBP) may have misled their investors. If you purchased IBP securities and have lost money, you should contact Mark Delaney at [email protected] or (617) 398-5600.
On April 29, 2015, IBP was the subject of an article on Seeking Alpha which stated that numerous red flags existed at the Company, including (1) misrepresented financials; (2) subtle alterations of earnings definitions; (3) overstated cash flow; (4) related party conflicts of interest; (5) margin goals that appear disconnected from the company's economic model; (6) poorly disclosed litigation accusing the company of systematically under-reporting hours worked; (7) violations of the Fair Labor Standards Acts, and (8) earnings estimates that have consistently been revised lower. On this news, shares of Installed Building Products fell $2.71 per share or over 11% to close at $20.74 on April 29, 2015.
Block & Leviton, with offices in Boston and the San Francisco bay area represents investors who have suffered losses on their investments nationwide and has recovered billions of dollars for investors. Confidentiality to whistleblowers or others with information relevant to the lawsuit is assured.
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Contact: BLOCK & LEVITON LLP
Mark A. Delaney, Esq.
SOURCE Block & Leviton LLP