Dycom investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, Dycom provides specialty contracting services through subsidiaries throughout the United States and Canada. Dycom’s services include program management, engineering, construction, maintenance, and installation services for telecommunications providers, underground facility locating services for various utilities and other construction and maintenance services for electric and gas utilities.
The Class Period begins on November 20, 2017, when Dycom issued a press release announcing its financial and operating results for the first fiscal quarter ended October 28, 2017.
According to the complaint, on May 22, 2018, during a conference call regarding Dycom’s financial and operating results for the first fiscal quarter ended April 28, 2018, Dycom’s Chairman, President & CEO Steven E. Nielsen disclosed that Dycom did not have enough work in hand to absorb the costs it had already incurred associated with its new large projects, mainly because Dycom was facing great uncertainties related to permitting issues. Following this news, the price of Dycom’s common stock declined $23.56, or approximately 20.27%, to close on May 22, 2018 at $92.64 per share.
Prior to the market opening on August 13, 2018, Dycom issued a press release revising its guidance for the financial and operating results for the second fiscal quarter and six months ended July 28, 2018, and announcing preliminary revenues and results for the second quarter below the previous guidance. Following this news, the price of Dycom common stock dropped $21.62 per share, or 24.10%, to close at $68.09 per share on August 13, 2018.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) Dycom’s new large projects were highly dependent on permitting and tactical considerations, (ii) Dycom was facing great uncertainties related to permitting issues; (iii) those uncertainties would expose Dycom to near-term margin pressure and absorption issues, and (iv) as a result of the foregoing, defendants’ statements about Dycom’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you are a member of the class described above, you may no later than December 24, 2018 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at email@example.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at firstname.lastname@example.org