AZZ, Inc. Securities Litigation (2019)

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Lawsuit Overview

Defendant:AZZ Inc.
Date Filed:November 4th, 2019
Sector:Consumer Durables
Industry:Building Products
Class Start Date:July 3rd, 2018
Class End Date:October 8th, 2019

According to the Complaint, AZZ provides galvanizing and metal coating services, welding solutions, specialty electronic equipment and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that the Company's internal controls over financial reporting were not effective; (2) that the Company improperly implemented ASC 606 which resulted in improper revenue reconciliations; and (3) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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First Identified Complaint

Omid Atayi, et al. v. AZZ, Inc., et al.

Date Filed:November 4th, 2019
Class Period Start:July 3rd, 2018
Class Period End:October 8th, 2019
First Identified Complaint Filings
#Document TitleFiling Date