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Investor Class Action Filed Against Graña y Montero S.A.A. for Securities Fraud Violations
Company Name: Graña y Montera S.A.A.
Court: United States District Court for the Eastern District of New York
Case Number: 17-cv-01105
Judge: The Hon. Joan M. Azrack
Class period: Between July 24, 2013 and February 24, 2017
Security Type: American Depository Shares (ADS)

Case Background:

On February 27, 2017, the initial complaint in this securities class action was filed against Graña y Montero S.A.A. (“Graña y Montero”), and certain of Graña y Montero’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act. 

Plaintiffs allege that during the class period, defendants made materially false and misleading statements and/or failed to disclose adverse information regarding Graña y Montero’s business and the source of its revenues. Including that between 2005 and 2014, Graña y Montero generated millions of dollars in revenues from various construction and real estate contracts which had been procured through the payment of bribes, by a company with which one of Graña y Montero’s subsidiaries was part of a consortium. Plaintiffs allege that as a result of these false and misleading statements or omissions, Graña y Montero was able to sell $475 million worth of American Depositary Shares (“ADS”) in an initial public offering, and trade at artificially inflated prices until the truth was revealed.

Current Status of Case:

On November 19, 2019, the parties participated in a mediation session.  The parties agreed to settle this class action for $20,000,000.  On August 18, 2020, the Court preliminarily approved the settlement and set a final hearing on the settlement to be held on December 1, 2020.  This action is ongoing. 

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.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-844-887-9500 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please complete this form and list your purchase and sale transaction(s) for Graña y Montero S.A.A. (NYSE: GRAM) American Depository Shares (“ADSs”) between July 24, 2013 and February 24, 2017, both dates inclusive (the "Class Period"):

You may also contact James Maro, Jr., Esq. or Adrienne Bell, Esq. at 610.667.7706 or toll free at 844.887.9500, or you may submit your information via email at info@ktmc.com, or you may click here to print a PDF of this form.

* Denotes required field
 
 
 
 
 
 
# of Shares
Price per Share
 
 
 
Principal Amount
Amount Paid
Series or CUSIP
 
 
 
# of Contracts
Price per Contract
Exercise Price
Expiration Date
Did you purchase shares of Graña y Montero S.A.A. prior to the Class Period?
Are you a current or former employee of Graña y Montero S.A.A.?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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