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U.S. Concrete, Inc. (NASDAQ: USCR)

Securities Class Action

Overview
  • Date:
  • 3/29/2017
  • Company Name:
  • U.S. Concrete, Inc.
  • Stock Symbol:
  • USCR
  • Class Period:
  • FROM 3/6/2015 TO 3/23/2017
  • Status:
  • Closed/Complete
  • Court:
  • U.S. Bankruptcy Court: Northern District of Texas

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NEW YORK, March 29, 2017 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Texas on behalf of all persons or entities who acquired U.S. Concrete, Inc. (NASDAQ: USCR) securities between March 6, 2015 and March 23, 2017 (the “Class Period”).

U.S. Concrete, Inc. produces and sells ready-mixed concrete, aggregates, and concrete-related products and services for the construction industry in the United States. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company lacked effective internal controls over financial reporting; and (ii) as a result of the foregoing, U.S. Concrete’s public statements were materially false and misleading at all relevant times.

On March 24, 2017, U.S. Concrete filed a Current Report on Form 8-K with the Securities and Exchange Commission, announcing the resignation of the Company’s Chief Financial Officer, Joseph Tusa, and advising investors that the Company had dismissed its previous auditor, Grant Thornton LLP, and engaged Ernst & Young LLP as its new public accounting firm.

On this news, U.S. Concrete’s share price fell $5.90, or 8.84%, to close at $60.80 on March 24, 2017.

If you purchased or otherwise acquired U.S. Concrete 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.

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