A lawsuit was filed on behalf of investors in Grana y Montero SAA (ADR) (NYSE:GRAM) shares over alleged securities laws violations. Deadline: April 28, 2017. NYSE:GRAM investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/03/2017 -- An investor, who purchased shares of Grana y Montero SAA (ADR) (NYSE:GRAM), filed a lawsuit in New York over alleged Securities Laws violations by Grana y Montero SAA.
Investors who purchased shares of Grana y Montero SAA (ADR) (NYSE:GRAM) have certain options and for certain investors are short and strict deadlines running. Deadline: April 28, 2017. NYSE:GRAM investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff claims that between April 30, 2014 and February 24, 2017, the defendants made false and/or misleading statements and/or failed to disclose that Graña y Montero was aware that its Brazilian partner Odebrecht S.A. paid bribes to former Peruvian President Alejandro Toledo to win construction work on a road traveling from Peru to Brazil; and that as a result, defendants' statements about Graña y Montero's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Peru based Grana y Montero SAA is a holding company primarily engaged in the construction and Engineering Industry, Real Estate, Oil Services, and Operation of Public Concessions and Business Support Services.
On February 24, 2017,an article was published highlighting a report that Graña y Montero knew about $20 million in bribes paid to former Peruvian President Alejandro Toledo by its partner Odebrecht. Graña y Montero was one of Odebrecht's local partners on two sections of a project to pave a road from the Peruvian Amazon to Brazil.
Shares of Grana y Montero SAA (ADR) (NYSE:GRAM) declined from $5.10 per share on February 24, 2017 to $2.20 per share on February 27, 2017.
Those who purchased shares of Grana y Montero SAA (ADR) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com