Cases
Graña y Montero S.A.A. (NYSE: GRAM)
Securities Class Action
Overview
Overview
- Date:
- 2/28/2017
- Company Name:
- Graña y Montero S.A.A.
- Stock Symbol:
- GRAM
- Class Period:
- FROM 4/20/2014 TO 2/24/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Eastern District of New York
NEW YORK, February 28, 2017 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all persons or entities who acquired Graña y Montero S.A.A. (NYSE: GRAM) securities between April 20, 2014 and February 24, 2017 (the “Class Period”).
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that Graña y Montero was aware that its Brazilian partner Odebrecht S.A. paid bribes to former Peruvian President Alejandro Toledo to win construction work on a road traveling from Peru to Brazil. As a result, Defendants’ statements about Graña y Montero’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis during the class period.
On February 24, 2017, Hildebrandt en sus trece, a Peruvian magazine, disclosed that Graña was aware of $20 million in bribes paid to former President Alejandro Toledo by Brazilian firm Odebrecht SA. Graña worked with Odebrecht on two parts of a project to pave a road extending from the Peruvian Amazon to Brazil.
On this news, Graña shares fell $1.77 per share, or approximately 34.8%, to close at $3.32 per share on February 24, 2017.
If you purchased or otherwise acquired Global Eagle securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that Graña y Montero was aware that its Brazilian partner Odebrecht S.A. paid bribes to former Peruvian President Alejandro Toledo to win construction work on a road traveling from Peru to Brazil. As a result, Defendants’ statements about Graña y Montero’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis during the class period.
On February 24, 2017, Hildebrandt en sus trece, a Peruvian magazine, disclosed that Graña was aware of $20 million in bribes paid to former President Alejandro Toledo by Brazilian firm Odebrecht SA. Graña worked with Odebrecht on two parts of a project to pave a road extending from the Peruvian Amazon to Brazil.
On this news, Graña shares fell $1.77 per share, or approximately 34.8%, to close at $3.32 per share on February 24, 2017.
If you purchased or otherwise acquired Global Eagle securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.