NEW YORK, June 6, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Toll Brothers, Inc. ("Toll Brothers" or the "Company") (NYSE: TOL). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/tol.
The investigation concerns whether Toll Brothers and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On December 23, 2016, Toll Brothers revealed in its annual report for fiscal year 2016, that its "estimated liability for known and unknown water intrusion claims increased in the fourth quarter of fiscal 2016 to approximately $324.4 million as of October 31, 2016." On June 5, 2017, Toll Brothers revealed that in April 2017, the U.S. Securities and Exchange Commission "informed the Company that it was conducting an investigation and requested that we voluntarily produce documents and information relating to our estimated repair costs for stucco and other water intrusion claims in fiscal 2016." Following this news, Toll Brothers' stock dropped $0.76 per share, or 1.98%, to close at $37.53 on June 5, 2017.
If you are aware of any facts relating to this investigation, or purchased shares of Toll Brothers, you can assist this investigation by visiting the firm's site: www.bgandg.com/tol. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.