NEW YORK, March 15, 2013 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Great Lakes Dredge & Dock Corporation ("Great Lakes" or the "Company") who purchased Great Lakes common stock between May 4, 2012 and March 14, 2013 (the "Class Period"). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether Great Lakes and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 14, 2013 Great Lakes announced that its financial statements for the quarterly periods ended June 30, 2012 and September 30, 2012 should no longer be relied upon by investors and had to be restated. Great Lakes stated that "certain pending change orders where client acceptance has not been finalized were included as revenue." Consequently, it concluded that "2012 second and third quarter demolition segment revenues were overstated by $3.9 million and $4.3 million, respectively." Great Lakes also announced the departure of its Chief Operating Officer and President Bruce J. Biemeck, who served as Chief Financial Officer until August 20, 2012. On this news the price of Great Lakes stock has fallen by over 20%.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Robert S. Willoughby Pomerantz Grossman Hufford Dahlstrom & Gross LLP email@example.comSource:Pomerantz Grossman Hufford Dahlstrom & Gross LLP