An investigation on behalf of current long term investors in Astec Industries, Inc. (NASDAQ: ASTE) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 04/22/2019 -- An investigation was announced for current long-term investors in shares of Astec Industries, Inc. (NASDAQ: ASTE) concerning potential breaches of fiduciary duties by certain directors of Astec Industries, Inc.
Investors who are current long term investors in Astec Industries, Inc. (NASDAQ: ASTE) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: ASTE stocks follows a lawsuit filed against Astec Industries, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: ASTE stocks, concerns whether certain Astec Industries directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Eastern District of Tennessee the plaintiff alleges that he defendants made false and misleading statements and/or failed to disclose adverse information regarding Astec's business, operations and prospects, including that its wood pellet plants suffered from significant and costly problems that prevented them from running at their promised production capacity, posing a threat to the Company's pellet plant business, its overall financial performance, and its financial outlook. As a result of this information being withheld from the market, the price of Astec stock was artificially inflated to a high of nearly $70 per share between July 26, 2016 and October 22, 2018.
Those who purchased shares of Astec Industries, Inc. (NASDAQ: ASTE) have certain options and should contact the Shareholders Foundation.
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