RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased U.S. Concrete, Inc. (NASDAQ: USCR) (“U.S. Concrete” or the “Company”) securities between March 6, 2015 and March 23, 2017, inclusive (the “Class Period”).
If you purchased shares of U.S. Concrete and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
According to the complaint, in a series of filings with the U.S. Securities and Exchange Commission, U.S. Concrete officials failed to disclose that the company lacked effective internal controls over financial reporting. The complaint alleges that officers and directors of the company knew of a material weakness regarding the computations of income tax accounts and disclosures, yet purposefully deceived shareholders by omitting this material weakness from the company’s public filings. The truth eventually emerged on March 24, 2017, when U.S. Concrete announced that it dismissed its previous auditor, Grant Thornton LLP, and disclosed the resignation of the company’s Senior Vice President and Chief Financial Officer, Joseph Tusa, Jr. On this news, U.S. Concrete’s stock fell $5.90 per share, or 8.84%, to close at $60.80 per share on March 24, 2017.