Ryan & Maniskas Announces Class Action Lawsuit Against GLDD (USA)

Ryan & Maniskas LLP has announced that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities that purchased the common stock of Great Lakes Dredge & Dock Corporation between August 7, 2012 and March 14, 2013, inclusive.

The complaint charges Great Lakes and certain of its officers and directors with violations of the Securities Exchange Act of 1934.

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.

Specifically, the Complaint alleges that defendants concealed from the investing public that they had recognized revenue in a manner not consistent with the applicable accounting policy-certain pending change orders where client acceptance was not finalized were incorrectly included as revenue. In addition, the company failed to disclose material weaknesses in its internal controls to detect or prevent misstatements in its financial statements.

As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

Press Release, March 25, 2013

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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