Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Willbros Group, Inc.
NEW YORK, Oct. 22, 2014 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Willbros Group, Inc. ("Willbros Group" or the "Company") (NYSE: WG -News). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at [email protected] or 212-697-6484.
The investigation concerns whether Willbros Group and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On October 22, 2014, Willbros Group announced in a regulatory filing its intentions to restate its unaudited condensed consolidated financial statements for the quarterly period ended June 30, 2014. The Company identified deterioration of a significant pipeline construction project. This restatement will reverse approximately $8.0 million in pre-tax income and include approximately $14.0 to $16.0 million in estimated pre-tax losses at project completion. As a result, the Company stated that the second quarter financial statements should no longer be relied upon.
On this news, shares of Willbros Group fell $2.76, or 36.08% during intraday trading to trade at $4.89.
If you are aware of any facts relating to this investigation, or purchased shares of Willbros Group, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
[email protected]
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-bronstein-gewirtz--grossman-llc-announces-investigation-of-willbros-group-inc-468247478.html
SOURCE Bronstein, Gewirtz & Grossman, LLC
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