NEW YORK, March 26, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Astec Industries, Inc. (NASDAQ: ASTE) from July 26, 2016 through October 22, 2018, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Astec investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than April 2, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, http://zhanginvestorlaw.com/join-action-form/?slug=astec-industries-inc&id=1711 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email info@zhanginvestorlaw.com, slee@zhanginvestorlaw.com for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Astec’s wood pellet plants suffered from significant and costly problems that prevented the plants from running at their promised production capacity; (2) this posed a threat to Astec’s pellet plant business, overall financial performance, and financial outlook; and (3) as a result, defendants’ statements regarding Astec’s outlook and expected financial performance were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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