NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 3, 2020 to file lead plaintiff applications in a securities class action lawsuit against AZZ Inc. (NYSE: AZZ), if they purchased the Company’s securities between July 3, 2018 and October 8, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of Texas.
What You May Do
If you purchased securities of AZZ and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-azz/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 3, 2020.
About the Lawsuit
AZZ and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 17, 2019, post-market, the Company disclosed a material weakness in its internal control over financial reporting related to preparation and review of revenue reconciliations after adopting a new revenue recognition standard. On October 8, 2019, the Company disclosed that its 2Q2020 financial results were delayed “to allow the Company additional time to complete the review of the Form 10-Q for its fiscal year 2020 second quarter ended August 31, 2019.”
On this news, the price of AZZ shares plummeted nearly 14%.
The case is Atayi v. AZZ Inc.,19-cv-00928.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.