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U.S. CONCRETE, INC.

(USCR)
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US Concrete Inc : Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in U.S. Concrete, Inc. of Class Action Lawsuit and Upcoming Deadline - USCR

04/21/2017 | 08:04pm EDT

NEW YORK, NY / ACCESSWIRE / April 21, 2017 / Pomerantz LLP announces that a class action lawsuit has been filed against U.S. Concrete, Inc. ("U.S. Concrete" or the "Company") (NASDAQ: USCR) and certain of its officers. The class action, filed in United States District Court, Northern District of Texas, and docketed under 17-cv-00266 is on behalf of a class consisting of investors who purchased or otherwise acquired U.S Concrete securities, seeking to recover compensable damages caused by defendants' violations of the Securities Exchange Act of 1934.

If you are a shareholder who purchased U.S. Concrete securities between March 6, 2015 and March 23, 2017, both dates inclusive, you have until May 29, 2017 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.

[Click here to join this class action]

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.

The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

SOURCE: Pomerantz LLP


© Accesswire 2017
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Financials (USD)
Sales 2021 1 405 M - -
Net income 2021 34,0 M - -
Net Debt 2021 613 M - -
P/E ratio 2021 27,4x
Yield 2021 -
Capitalization 927 M 927 M -
EV / Sales 2021 1,10x
EV / Sales 2022 0,98x
Nbr of Employees 2 967
Free-Float 86,6%
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Mean consensus HOLD
Number of Analysts 9
Average target price 61,07 $
Last Close Price 54,61 $
Spread / Highest target 46,5%
Spread / Average Target 11,8%
Spread / Lowest Target -24,9%
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Managers and Directors
NameTitle
Ronnie A. Pruitt President, Chief Executive & Operating Officer
John E. Kunz Chief Financial Officer & Senior Vice President
Michael D. Lundin Chairman
Colin McGill Sutherland Independent Director
Kurt Matthew Cellar Independent Director
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