STEVENSON, Md., July 2, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers of the common stock of Tetra Tech, Inc. ("Tetra Tech" or the "Company") (Nasdaq:TTEK) during the period between May 3, 2012 and June 18, 2013, inclusive (the "Class Period").
If you have suffered a net loss for all transactions in Tetra Tech, Inc. common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at email@example.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than August 27, 2013 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that claims by customers and cost overruns created an acute risk that the Company would be required to take an earnings charge and that decreasing demand for the Company's services would lead project closures. According to the complaint, following the Company's announcement on June 18, 2013 that due to an impairment charge of approximately $45 million due to "change orders on lump-sum projects for certain U.S. federal and state government customers" and $40 to $50 million in restructuring costs related to its Eastern Canadian operations the Company revised its prior guidance for the third quarter of 2013, the value of Tetra Tech stock declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation Stevenson, Maryland 410/415-6616 firstname.lastname@example.orgSource: Brower Piven, A Professional Corporation