Granite Construction Incorporated

Case Details

Class Period:
October 26, 2018 – August 1, 2019
Date Filed:
August 13, 2019
Case Number:
3:19cv04744
Jurisdiction:
California Northern District Court

Case Summary

The complaint filed in this class action alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, 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 Companys business, operations, and prospects and prospects were materially misleading and/or lacked a reasonable basis.

Action Details

View Complaint (pdf)

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