San Diego, CA -- (SBWIRE) -- 05/11/2015 -- An investor, who purchased shares of MasTec, Inc. (NYSE:MTZ), filed a lawsuit in the U.S. District Court for the Southern District of Florida over alleged violations of Federal Securities Laws by MasTec, Inc. in connection with certain allegedly false and misleading statements made between August 12, 2014 and March 17, 2015.

Investors who purchased shares of MasTec, Inc. (NYSE:MTZ) have certain options and for certain investors are short and strict deadlines running. Deadline: July 6, 2015. NYSE:MTZ investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of MasTec, Inc. (NYSE:MTZ) common shares between August 12, 2014 and March 17, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that certain cost to complete estimates, currently believed to be in the range of zero to $13 million, which were recognized during the company's third quarter of 2014, should have been recognized during the second quarter of 2014, that MasTec's internal control over financial reporting was ineffective, and that as a result of the foregoing, MasTec' public statements were materially false and misleading at all relevant times.

On March 17, 2015, MasTec, Inc. announced that it will not be able to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2014. According to MasTec, Inc., the delay is the result of an ongoing independent internal investigation by the Audit Committee and its independent counsel, and that the Audit Committee "has not reached any conclusions and is undertaking additional review of accounting estimates." MasTec, Inc. further stated that it "cannot predict the outcome of the Audit Committee's investigation, its ultimate scope or when it will be completed." Shares of MasTec, Inc. (NYSE:MTZ) declined to as low as $16.00 per share on March 18, 2015.

Those who purchased shares of MasTec, Inc. (NYSE:MTZ) 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