San Diego, CA -- (SBWIRE) -- 12/10/2014 -- A deadline is coming up on December 29, 2014 in the lawsuit filed for investors of Willbros Group Inc (NYSE:WG) over alleged securities laws violations by Willbros Group.

Investors who purchased shares of Willbros Group Inc (NYSE:WG) have certain options and there are strict and short deadlines running. Deadline: December 29, 2014. NYSE:WG stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Southern District of Texas the plaintiff alleges on behalf of purchasers of Willbros Group Inc (NYSE:WG) common shares between August 4, 2014 and October 21, 2014, that the defendants violated Federal Securities Laws.

On October 22, 2014, Willbros Group Inc announced that it intends to restate its financial statements for the second quarter of 2014, and that their financial statements should no longer be relied upon. Willbros Group Inc said that it identified approximately $22.0 to $24.0 million in deterioration of a significant pipeline construction project in the Company's Northeast regional business within the Oil & Gas segment and that the deterioration consists of the reversal of approximately $8.0 million in pre-tax income previously recognized and the recognition of approximately $14.0 to $16.0 million in estimated pre-tax losses at project completion. Willbros Group Inc also said that it elected a new CEO and restructured its management team.

The Company revealed that the intended restatement stems from an error in the estimation process of a significant pipeline construction project and its correction will result in the reversal of approximately $8.0 million in recognized pre-tax income and the recognition of approximately $14.0 to $16.0 million in estimated pre-tax losses at completion. On this news, shares of Willbros fell sharply during intraday trading on October 22, 2014, damaging investors. Shares of Willbros Group Inc (NYSE:WG) declined to as low as $4.82 per share on October 22, 2014 and continued to decline to as low as $4.02 per share on December 2, 2014.

On December 8, 2014, NYSE:WG shares closed at $4.25 per share.

Those who purchased shares of Willbros Group Inc (NYSE:WG) 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