A Deadline is coming up on August 27, 2013 in the lawsuit for investors in Tetra Tech, Inc. (NASDAQ:TTEK) and NASDAQ:TTEK stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 08/14/2013 -- A deadline is coming up on August 27, 2013 in the lawsuit filed for investors of Tetra Tech, Inc. (NASDAQ:TTEK) over alleged securities laws violations in connection with certain allegedly false and misleading statements made by Tetra Tech, Inc
Investors with a substantial investment in Tetra Tech, Inc. (NASDAQ:TTEK) shares between May 3, 2012 and June 18, 2013, should get active before the Deadline that is coming up on August 27, 2013, and NASDAQ:TTEK investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges on behalf of purchasers of Tetra Tech, Inc. (NASDAQ:TTEK) between May 3, 2012 and June 18, 2013, that Tetra Tech, Inc. and certain of its officers and directors violated the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff alleges that between May 3, 2012 and June 18, 2013 defendants made allegedly false and/or misleading statements and/or failed to disclose that claims by customers and cost overruns created an acute risk that Tetra Tech, Inc. would be required to take an earnings charge, and that decreasing demand for Tetra Tech’ s services would lead to project closures.
Then on June 18, 2013, Tetra Tech, Inc. announced that it revised its third quarter 2013 outlook and authorized $100 Million stock repurchase program. Tetra Tech, Inc announced that it revised its third quarter 2013 outlook to reflect increased restructuring costs resulting from the previously announced weakness in Eastern Canada and mining, and new findings on certain project claims. In addition, Tetra Tech, Inc announced that it plans to incur charges to resolve certain project claims in its third quarter. Tetra Tech, Inc said that the charges will affect the revenue and profitability of all three reportable segments and in the third quarter, revenue, net of subcontractor costs, is now expected to range from $440 million to $490 million, and, based on these charges, diluted loss per share is expected to range from $0.30 to $0.50.
Shares of Tetra Tech, Inc. (NASDAQ:TTEK) declined from $26.71 per share on June 18, 2013, to $22.77 per share on June 19, 2013.
On August 13, NASDAQ:TTEK shares closed at $22.96 per share, which is significantly below its current 52 week High of $31.49 per share.
Those who purchased shares of Tetra Tech, Inc. (NASDAQ:TTEK), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego