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U.S. Concrete, Inc. (USCR)

NASDAQ:USCR

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Investing In U.S. Concrete, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in U.S. Concrete, Inc. (“U.S. Concrete” or the “Company”) (NASDAQ:USCR) of the May 29, 2017 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 Northern District of Texas on behalf of all those who purchased U.S. Concrete stock or options between March 6, 2015 and March 23, 2017 (the “Class Period”).  The case, Ruedelstein v. U.S. Concrete, Inc. et al, No. 17-cv-00266 was filed on March 28, 2017, and has been assigned to Judge Reed C. O'Connor.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to maintain effective internal controls over financial reporting.

Specifically, in a Current Report on Form 8-K on March 24, 2017, U.S. Concrete announced the resignation of the Company’s Chief Financial Officer, Joseph Tusa, and reported that the Company had dismissed its previous auditor, Grant Thornton LLP, and engaged Ernst & Young LLP as its new public accounting firm. The Company identified a material weakness for the fiscal year ended December 31, 2016 relating to management review controls associated with the completeness and accuracy of computations relating to income tax accounts and disclosures.

After the announcement, U.S. Concrete’s share price fell from $66.70 per share on March 23, 2017 to a closing price of $60.80 on March 24, 2017—a $5.90 or a 8.85% drop.

 

Take Action

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 rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding U.S. Concrete’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

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.

  • Case:
    U.S. Concrete, Inc. (USCR)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 03/29/2017

Send Information

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