NEW YORK, March 14, 2017 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Graña y Montero S.A.A. American Depositary Shares (NYSE:GRAM) from April 30, 2014 through February 24, 2017, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Graña y Montero investors under the federal securities laws.
To join the Graña y Montero class action, go to http://www.rosenlegal.com/cases-1060.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Graña y Montero was aware that its Brazilian partner Odebrecht S.A. paid bribes to former Peruvian President Alejandro Toledo to win construction work on a road traveling from Peru to Brazil; and (2) as a result, defendants’ statements about Graña y Montero’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. On February 24, 2017, Reuters published an article highlighting a report that Graña y Montero knew about $20 million in bribes paid to former Peruvian President Alejandro Toledo by its partner Odebrecht. On this news, shares of Graña y Montero fell $1.77 per share or over 34% to close $3.32 per share on February 24, 2017.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 28, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1060.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.