NEW YORK, Jan. 10, 2018 /PRNewswire/ -- Kaplan Fox
& Kilsheimer LLP (www.kaplanfox.com) is investigating claims on
behalf of investors of AZZ Inc. ("AZZ" or the "Company") (NYSE:
AZZ). Investors who purchased shares of AZZ securities may be
affected.
On January 9, 2018, AZZ announced
"that the Company historically should have accounted differently
for certain contracts within its Energy Segment."
Specifically, the Company reported that revenue for the contracts
at issue "was historically recognized for the Energy Segment upon
transfer of titled and risk to customers or based upon the
percentage of completion method of accounting for electrical
products built to customer specifications." However, AZZ disclosed
that "in the case of contracts for which revenue was recorded upon
contract completion and transfer of title, the Company instead
should have applied the percentage of completion method." AZZ
further advised investors that it "is currently reviewing whether .
. .there are any significant impacts to the Company's audited
consolidated financial statements for the fiscal years ended
February 28, 2015 and 2017, and the
fiscal year ended February 29, 2016,
as contained in its 2017 Annual Report on Form 10-K and the
previously issued unaudited financial statements contained in its
Quarterly Reports on Form 10-Q for the quarters ended May 31, 2017 and August
31, 2017."
Following this news, AZZ's share price fell $3.14 per share, or about 6.2%, to close at
$47.50 per share on January 9, 2018.
If you are an investor in AZZ and would like to discuss our
investigation, please contact us by emailing pmayer@kaplanfox.com
or by calling 800-290-1952.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP,
with offices in New York,
San Francisco, Los Angeles, Chicago and New
Jersey, has many years of experience in prosecuting investor
class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit
our website at www.kaplanfox.com. If you have any questions
about this Notice, the action, your rights, or your interests,
please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: dhall@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California
94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
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SOURCE Kaplan Fox &
Kilsheimer LLP