Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In AECOM To Contact The Firm Before Lead Plaintiff Deadline
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in AECOM (the “Company”) (NYSE:ACM) of the October 31, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased AECOM common stock or options between February 11, 2015 and August 15, 2016 (the “Class Period”). The case, William Graves v. AECOM et al, No. 2:16-cv-06605 was filed on September 1, 2016, and has been assigned to Judge Karen L. Stevenson.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by overstating the benefits of the Company’s acquisition of URS Corp., as well as by misinterpreting the Company’s free cash flow per share.
Specifically, on August 16, 2016, Spruce Point Capital Management published a report on AECOM stating “that AECOM’s stock is worth approximately 33% - 45% less than its current price.” The report cited AECOM management’s “misaligned incentive structure,” pursuant to which the Company’s “CEO’s $18 million compensation in 2015 [was] heavily tied to its aggressive interpretation of its Free Cash Flow per share,” and asserted that the Company had misrepresented the costs and benefits of the URS Acquisition.
After the announcement, AECOM’s share price fell from $35.09 per share on August 15, 2016 to a closing price of $33.44 on August 16, 2016 —a $1.65 or a 4.70% drop.
If you invested in AECOM common stock or options between February 11, 2015 and August 15, 2016 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding AECOM’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.
* The submission of this form does not create an attorney-client relationship.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.