PCR Perini Cp

Fourth paragraph, subsection (a) of release dated August 20, 2008 should read: (a) that the developer of Perini's Las Vegas, Nevada projects, including the Cosmopolitan Resort & Casino Project, was experiencing financial problems because it failed to secure financing for the entire project and was dependent upon raising the remainder of the financing from the expected sale of residential units. (sted (a) that the developer of Perini's Las Vegas, Nevada projects, including the CityCenter Project, was experiencing financial problems because it failed to secure financing for the entire project and was dependent upon raising the remainder of the financing from the expected sale of residential units.) The corrected release reads: COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP FILES CLASS ACTION SUIT AGAINST PERINI CORP. Coughlin Stoia Geller Rudman & Robbins LLP ("Coughlin Stoia") (http://www.csgrr.com/cases/perini/) today announced that a class action has been commenced in the United States District Court for the District of Massachusetts on behalf of purchasers of Perini Corp. ("Perini" or the "Company") (NYSE:PCR) common stock during the period between November 2, 2006 and January 17, 2008 (the "Class Period"). If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Samuel H. Rudman or David A. Rosenfeld of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/perini/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. The complaint charges Perini and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Perini and its subsidiaries offer general contracting, construction management, and design-build services to private clients and public agencies worldwide. According to the complaint, during the Class Period, defendants issued materially false and misleading statements that misrepresented and failed to disclose: (a) that the developer of Perini's Las Vegas, Nevada projects, including the Cosmopolitan Resort & Casino Project, was experiencing financial problems because it failed to secure financing for the entire project and was dependent upon raising the remainder of the financing from the expected sale of residential units. However, the proceeds from the residential unit sales were based on unrealistic and aggressive prices at a time when the condo market in Las Vegas, Nevada was extremely weak; (b) that the Company's Las Vegas projects were being delayed, and could possibly be halted; (c) that the developer was in risk of defaulting on its construction loan; (d) that the Company's future revenue and profit was dependent upon the Las Vegas projects since the projects consisted of approximately 20% of its backlog; and (e) as a result of the foregoing, the Company's ability to maintain its profit margins was in serious doubt. Then, on January 17, 2008, the Company issued a press release announcing that Deutsche Bank "delivered a notice of loan default to the developer of the Cosmopolitan Resort and Casino project under construction in Las Vegas, Nevada." In response to this announcement, shares of the Company's common stock fell $10.05 per share, or 27%, to close at $27.65 per share, on heavy trading volume. Plaintiff seeks to recover damages on behalf of all purchasers of Perini common stock during the Class Period (the "Class"). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud. Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm. Fourth paragraph, subsection (a) of release dated August 20, 2008 should read: (a) that the developer of Perini's Las Vegas, Nevada projects, including the Cosmopolitan Resort & Casino Project, was experiencing financial problems because it failed to secure financing for the entire project and was dependent upon raising the remainder of the financing from the expected sale of residential units. (sted (a) that the developer of Perini�s Las Vegas, Nevada projects, including the CityCenter Project, was experiencing financial problems because it failed to secure financing for the entire project and was dependent upon raising the remainder of the financing from the expected sale of residential units.) The corrected release reads: COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP FILES CLASS ACTION SUIT AGAINST PERINI CORP. Coughlin Stoia Geller Rudman & Robbins LLP (�Coughlin Stoia�) (http://www.csgrr.com/cases/perini/) today announced that a class action has been commenced in the United States District Court for the District of Massachusetts on behalf of purchasers of Perini Corp. (�Perini� or the �Company�) (NYSE:PCR) common stock during the period between November 2, 2006 and January 17, 2008 (the �Class Period�). If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff�s counsel, Samuel H. Rudman or David A. Rosenfeld of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/perini/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. The complaint charges Perini and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Perini and its subsidiaries offer general contracting, construction management, and design-build services to private clients and public agencies worldwide. According to the complaint, during the Class Period, defendants issued materially false and misleading statements that misrepresented and failed to disclose: (a) that the developer of Perini�s Las Vegas, Nevada projects, including the Cosmopolitan Resort & Casino Project, was experiencing financial problems because it failed to secure financing for the entire project and was dependent upon raising the remainder of the financing from the expected sale of residential units. However, the proceeds from the residential unit sales were based on unrealistic and aggressive prices at a time when the condo market in Las Vegas, Nevada was extremely weak; (b) that the Company�s Las Vegas projects were being delayed, and could possibly be halted; (c) that the developer was in risk of defaulting on its construction loan; (d) that the Company�s future revenue and profit was dependent upon the Las Vegas projects since the projects consisted of approximately 20% of its backlog; and (e) as a result of the foregoing, the Company�s ability to maintain its profit margins was in serious doubt. Then, on January 17, 2008, the Company issued a press release announcing that Deutsche Bank �delivered a notice of loan default to the developer of the Cosmopolitan Resort and Casino project under construction in Las Vegas, Nevada.� In response to this announcement, shares of the Company�s common stock fell $10.05 per share, or 27%, to close at $27.65 per share, on heavy trading volume. Plaintiff seeks to recover damages on behalf of all purchasers of Perini common stock during the Class Period (the �Class�). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud. Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm.