Hagens Berman Reminds Dycom Industries (NYSE: DY) Investors of December 24, 2018 Lead Plaintiff Deadline
SAN FRANCISCO, Nov. 20, 2018 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Dycom Industries, Inc. (NYSE: DY) of the December 24, 2018 Lead Plaintiff deadline in the pending securities class action. If you purchased or otherwise acquired Dycom securities between November 20, 2017 and August 10, 2018 (the “class period”) and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
Within three months during the class period, Defendants twice reduced Dycom’s financial guidance.
The first time, on May 22, 2018, Dycom and management partially blamed the reduction on margin pressure resulting from “under-absorption of labor and field costs as large customer programs mobilized” and assured investors Dycom’s permitting process was “getting better.” This news drove the price of Dycom shares down $23.56, or about 20%, to close at $92.64.
Then, on August 13, 2018, they again reduced financial guidance. The Company and management partially blamed the reduction in part on margin pressure and, in addition, on permitting issues. This news drove the price of Dycom shares down $21.62, or about 24%, to close at $68.09.
“We’re focused on investors’ losses and the extent to which Defendants’ statements concerning margins and permitting were misleading,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Dycom should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email DY@hbsslaw.com.
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Contact:Reed Kathrein, 510-725-3000