According to the Complaint, AZZ, Inc. provides galvanizing and metal coating services, welding solutions, specialty electronic equipment and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets.

The Complaint alleges that throughout the Class Period, Defendants made materially 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 failed to disclose to investors: (1) that the Company’s internal controls over financial reporting were not effective; (2) that the Company improperly implemented ASC 606 which resulted in improper revenue reconciliations; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

This case was voluntarily dismissed on December 23, 2019.