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NEW YORK, April 18, 2017 -- Safirstein Metcalf LLP announces that a class action lawsuit has been filed in the United States District Court, Northern District of Texas, against U.S. Concrete, Inc. (“U.S. Concrete” or the “Company”) (NASDAQ:USCR) and certain of its officers. The class action is on behalf of all persons or entities who purchased securities of U.S. Concrete between March 6, 2015 and March 23, 2017 (the "Class Period").
If you purchased U.S. Concrete securities during the Class Period, and would like more information about getting involved in the U.S. Concrete Shareholder Class Action, please call 1-800-221-0015, or email [email protected]. If you wish to serve as lead plaintiff, you must move the Court no later than May 29, 2017.
A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
| Company: | U.S. Concrete, Inc. | |
| Exchange: | NASDAQ | |
| Ticker: | USCR | |
| Class Period: | 3/6/15 – 3/23/17 | |
| Lead Plaintiff Date: | 5/29/17 |
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company lacked effective internal controls over financial reporting; and (ii) as a result of the foregoing, U.S. Concrete’s public statements were materially false and misleading at all relevant times.
On March 24, 2017, U.S. Concrete filed a Current Report on Form 8-K with the Securities and Exchange Commission, announcing the resignation of the Company’s Chief Financial Officer, Joseph Tusa, and advising investors that the Company had dismissed its previous auditor, Grant Thornton LLP, and engaged Ernst & Young LLP as its new public accounting firm.
Following this news, U.S. Concrete’s share price fell $5.90, or 8.84%, to close at $60.80 on March 24, 2017.
About Safirstein Metcalf LLP
Safirstein Metcalf LLP focuses its practice on shareholder rights. The law firm also practices in the areas of antitrust and consumer protection. All of the Firm’s legal endeavors are rooted in its core mission: provide investor and consumer protection.
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Safirstein Metcalf LLP Peter Safirstein, Esq. 1250 Broadway 27th Floor New York, NY 10001 1-800-221-0015
