Company Website:
http://www.rigrodskylong.com
WILMINGTON, Del. -- (Business Wire)
Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Willbros Group, Inc. (NYSE: WG)?
- Did you purchase your shares before August 4, 2014, or between
August 4, 2014 and October 21, 2014, inclusive?
- Did you lose money in your investment in Willbros Group, Inc.?
- Do you want to discuss your rights?
Rigrodsky
& Long, P.A., including former Special Assistant United States
Attorney, Timothy J. MacFall, announces that a complaint has been filed
in the United States District Court for the Southern District of Texas
on behalf of all persons or entities that purchased the common stock of
Willbros Group, Inc. (“Willbros” or the “Company”) (NYSE: WG)
between August 4, 2014 and October 21, 2014, inclusive (the “Class
Period”), alleging violations of the Securities Exchange Act of 1934
against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Willbros during the Class Period, or
purchased shares prior to the Class Period and still hold Willbros, and
wish to discuss this action or have any questions concerning this notice
or your rights or interests, please contact Timothy
J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2
Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by
e-mail to info@rl-legal.com; or
at: http://www.rigrodskylong.com/investigations/willbros-group-inc-wg.
Willbros is a specialty energy infrastructure contractor serving the
oil, gas, refinery, petrochemical and power industries. The Complaint
alleges that throughout the Class Period, defendants made materially
false and misleading statements, and omitted materially adverse facts,
about the Company’s business, operations and prospects. As a result of
defendants’ alleged false and misleading statements, the Company’s stock
traded at artificially inflated prices during the Class Period.
According to the Complaint, on October 21, 2014, the Company announced
that its second quarter financial results should no longer be relied
upon by investors and had to be restated – requiring the Company to
reverse $8 million in pre-tax income and record approximately $14-$16
million in estimated pre-tax losses at completion.
On this news, shares in Willbros fell almost 36%, closing at $4.90 per
share on October 22, 2014, on unusually heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later
than December 29, 2014. A lead plaintiff is a representative
party acting on behalf of other class members in directing the
litigation. In order to be appointed lead plaintiff, the Court must
determine that the class member’s claim is typical of the claims of
other class members, and that the class member will adequately represent
the class. Your ability to share in any recovery is not, however,
affected by the decision whether or not to serve as a lead plaintiff.
Any member of the proposed class may move the court to serve as lead
plaintiff through counsel of their choice, or may choose to do nothing
and remain an absent class member.
While Rigrodsky
& Long, P.A. did not file the Complaint in this matter, the
firm, with offices in Wilmington, Delaware and Garden City, New York, regularly
litigates securities class, derivative and direct actions, shareholder
rights litigation and corporate governance litigation, including
claims for breach of fiduciary duty and proxy violations in the Delaware
Court of Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar outcome.
Contacts:
Rigrodsky & Long, P.A.
Timothy J. MacFall, Esquire
Peter
Allocco
888-969-4242
516-683-3516
Fax: 302-654-7530
info@rl-legal.com
http://www.rigrodskylong.com
Source: Rigrodsky & Long, P.A.
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