According to the Complaint, Dycom provides specialty contracting services through subsidiaries throughout the
United States and in Canada. Dycom’s services include program management, engineering, construction, maintenance, and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Dycom’s large projects were highly dependent on permitting and tactical considerations, (ii) Dycom was facing great uncertainties related to permitting issues; (iii) said uncertainties would expose Dycom to near-term margin pressure and absorption issues, and (iv) as a result of the foregoing, Defendants’ statements about Dycom’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On January 11, 2019, the Court issued Orders consolidating cases and appointing Lead Plaintiff and Counsel.