Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against U.S. Concrete, Inc. (USCR)

3/31/2017, 2:01 AM (Source: GlobeNewswire)

NEW YORK, March 30, 2017 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against U.S. Concrete, Inc. (“U.S. Concrete” or the “Company”) (USCR) (Nasdaq: USCR) in the United States District Court for the Northern District of Texas on behalf of a class consisting of investors who purchased or otherwise acquired USCR securities between March 6, 2015 and March 23, 2017, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.

U.S. Concrete, Inc. produces and sells ready-mixed concrete, aggregates, and concrete-related products and services for the construction industry in the United States. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.

The Complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) U.S. Concrete lacked effective internal controls over financial reporting; and (2) as a result, defendants’ statements about U.S. Concrete’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On March 24, 2017, U.S. Concrete filed a Current Report on Form 8-K with the Securities and Exchange Commission, announcing the resignation of the Company’s Chief Financial Officer, Joseph Tusa, and advising investors that the Company had dismissed its previous auditor, Grant Thornton LLP, and engaged Ernst & Young LLP as its new public accounting firm.

On this news, U.S. Concrete’s share price fell, damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than May 29, 2017.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.

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