Investor Alert: Kaplan Fox Announces Investigation Of AZZ Inc.

NEW YORK, Jan. 10, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of AZZ Inc. ("AZZ" or the "Company") (NYSE: AZZ).  Investors who purchased shares of AZZ securities may be affected.

On January 9, 2018, AZZ announced "that the Company historically should have accounted differently for certain contracts within its Energy Segment."  Specifically, the Company reported that revenue for the contracts at issue "was historically recognized for the Energy Segment upon transfer of titled and risk to customers or based upon the percentage of completion method of accounting for electrical products built to customer specifications." However, AZZ disclosed that "in the case of contracts for which revenue was recorded upon contract completion and transfer of title, the Company instead should have applied the percentage of completion method."  AZZ further advised investors that it "is currently reviewing whether . . .there are any significant impacts to the Company's audited consolidated financial statements for the fiscal years ended February 28, 2015 and 2017, and the fiscal year ended February 29, 2016, as contained in its 2017 Annual Report on Form 10-K and the previously issued unaudited financial statements contained in its Quarterly Reports on Form 10-Q for the quarters ended May 31, 2017 and August 31, 2017."

Following this news, AZZ's share price fell $3.14 per share, or about 6.2%, to close at $47.50 per share on January 9, 2018.

If you are an investor in AZZ and would like to discuss our investigation, please contact us by emailing [email protected] or by calling 800-290-1952. 

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, the action, your rights, or your interests, please contact:

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: [email protected]

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: [email protected]

SOURCE Kaplan Fox & Kilsheimer LLP

Related Links

http://www.kaplanfox.com