SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces an Investigation Concerning Possible Violations of Federal Securities Laws...
August 16 2016 - 5:41PM
Business Wire
Levi & Korsinsky announces it has commenced an investigation
of AECOM (NYSE:ACM) (“AECOM” or “the Company”) concerning possible
violations of federal securities laws by the Company and/or certain
of its officers and directors.
On August 16, 2016, Spruce Point Capital Management released an
article about AECOM stating, “after a careful forensic financial
and accounting analysis of AECOM’s recent financial results and
condition, we believe that AECOM’s stock is worth approximately 33%
- 45% less than its current price.” The Spruce Point Report also
noted that there are “material weaknesses of internal controls over
financial reporting associated with [the Company’s] acquisition of
URS [Corp.]” and AECOM management’s “misaligned incentive
structure,” pursuant to which the Company’s “CEO’s $18 million
compensation in 2015 [was] heavily tied to its aggressive
interpretation of its Free Cash Flow per share.” Following this
news, AECOM stock fell more than 4% to a close of $33.44 per share
on August 16, 2016. To obtain additional information, go
to:
http://zlk.9nl.com/aecom-acm
or contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, California, Connecticut and Washington D.C. The
firm’s attorneys have extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors
throughout the nation in securities and shareholder lawsuits.
Attorney advertising. Prior results do not guarantee similar
outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20160816006306/en/
Levi & Korsinsky, LLPEduard Korsinsky, Esq.Tel:
212-363-7500Toll Free: 877-363-5972Fax: 212-363-7171www.zlk.com
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