NEW YORK, July 8, 2013 (GLOBE NEWSWIRE) -- Gainey McKenna announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased the common stock of Tetra Tech, Inc. ("Tetra" or the "Company") (Nasdaq:TTEK) between May 3, 2012 through June 18, 2013.
The Complaint alleges that the Company failed to take necessary charges to its accounts receivables and earnings due to a significant number of projects which were subject to claims and equitable charges by federal and state government clients, and issued materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, the Complaint alleges defendants misrepresented and/or failed to disclose that: (i) claims by customers and cost overruns created an acute risk that the Company would need to take an earnings charge and (ii) decreasing demand for the Company's services would lead to project closures. Moreover, throughout the Class Period, the Complaint alleges the Company failed to inform investors the extent to which Tetra's revenues would be impacted by an overall decline in the Eastern Canadian mining and oil industry resulting from large political and economic unrest in the region.
If you wish to serve as lead plaintiff, you must move the Court no later than August 27, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna at (212) 983-1300, or via e-mail at email@example.com or firstname.lastname@example.org.
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CONTACT: Gainey McKenna (212) 983-1300Source:Gainey McKenna& Egleston