An investigation on behalf of current long term investors in US Concrete Inc (NASDAQ:USCR) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:USCR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/10/2017 -- An investigation on behalf of investors in shares of US Concrete Inc (NASDAQ:USCR) concerning potential breaches of fiduciary duties by certain directors and officers of US Concrete Inc was announced.
Investors who are current long term investors in US Concrete Inc (NASDAQ:USCR) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm for current long term investors in NASDAQ:USCR stocks follows a lawsuit filed recently against US Concrete Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:USCR stocks, concerns whether certain US Concrete 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 Northern District of Texas the plaintiff alleges that the defendants made allegedly false and/or misleading statements and/or failed to disclose that the Company lacked effective internal controls over financial reporting, and that as a result of the foregoing, U.S. Concrete's public statements were materially false and misleading at all relevant times.
On March 24, 2017, US Concrete Inc disclosed the resignation of the Company's Chief Financial Officer, Joseph Tusa, and informed investors that US Concrete Inc had dismissed its previous auditor, Grant Thornton, and hired Ernst & Young as its new public accounting firm. US Concrete Inc has also informed investors that U.S. Concrete's internal control over financial reporting wasn't effective due to material weaknesses. Shares of US Concrete Inc (NASDAQ:USCR) declined to as low as $58.75 per share on March 24, 2017.
Those who purchased shares of US Concrete Inc 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