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10.01.2018 22:25
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Hagens Berman Alerts AZZ Investors to Admitted Improper Accounting and Investigation of Possible Securities Law Violations
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PR Newswire
SAN FRANCISCO, Jan. 10, 2018
SAN FRANCISCO, Jan. 10, 2018 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in AZZ, Inc. (NYSE: AZZ) to management's admission of certain improper accounting and to the firm's investigation of possible securities law violations. If you purchased or otherwise acquired securities of AZZ between April 1, 2015 and January 9, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing
On January 9, 2018, AZZ announced in a press release filed with the SEC that the Company "upon the recommendation of the Company's management and in consultation with the Company's Audit Committee and the Company's independent registered public accounting firm, BDO USA, LLP, on January 4, 2018 determined that the Company historically should have accounted differently for certain contracts within its Energy Segment."
AZZ also announced it is investigating the accounting impacts on certain annual and quarterly historical financial statements dating back to the Company's fiscal year ended February 28, 2015.
This news drove the price of AZZ shares down as much as $4.00, or about 8%, during intraday trading on January 9, 2018.
"We're focused on the extent of any adjustments to correct AZZ's historical financial statements and, if material, on damages to AZZ investors," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding AZZ should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email AZZ@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 70+ attorneys in 11 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
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SOURCE Hagens Berman Sobol Shapiro LLP
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