Processing your request


please wait...

Case Page

 

Case Status:    ONGOING    
On or around 08/14/2019 (Ongoing date of last review)

Filing Date: August 13, 2019

According to the Complaint, Granite purports to be one of the largest diversified infrastructure companies in the United States. In the public sector, the Company primarily focuses on heavy-civil infrastructure projects such as roads, highways, and power-related facilities. In the private sector, the Company provides site preparation and infrastructure services for residential development, energy development, and other facilities.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company had assumed certain risks in connection with its heavy civil joint venture projects bid between 2012 and 2014; (2) that there was an “untenable” imbalance of risk sharing between the Company and the joint venture project owners; (3) that, as a result, the Company was reasonably likely to incur additional project costs for its joint venture projects; (4) the Company was reasonably likely to incur additional costs in connection with certain project disputes; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects and prospects were materially misleading and/or lacked a reasonable basis.

COMPANY INFORMATION:

Sector: Capital Goods
Industry: Construction Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GVA
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 19-CV-04744
JUDGE: Hon. William Alsup
DATE FILED: 08/13/2019
CLASS PERIOD START: 10/26/2018
CLASS PERIOD END: 08/01/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available