Izard Nobel LLP Announces Class Action Lawsuit against Perini Corp.
August 27 2008 - 2:53PM
Business Wire
The law firm of Izard Nobel LLP, which has significant experience
representing investors in prosecuting claims of securities fraud,
announces that a lawsuit seeking class action status has been filed
in the United States District Court for the District of
Massachusetts on behalf of all those who purchased the common stock
of Perini Corp. (�Perini� or the �Company�) (NYSE: PCR) between
November 2, 2006 and January 17, 2008, inclusive (the �Class
Period�). The Complaint charges that Perini and certain of its
officers and directors violated federal securities laws by issuing
materially false statements that failed to disclose: (i) 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; (ii) that the Company�s Las Vegas
projects were being delayed, and could possibly be halted; (iii)
that the developer was at risk of defaulting on its construction
loan; and (iv) that Perini�s future revenue was dependent upon the
Las Vegas projects. If you are a member of the class, you may, no
later than October 20, 2008, request that the Court appoint you as
lead plaintiff of the class. A lead plaintiff is a class member
that acts on behalf of other class members in directing the
litigation. Although your ability to share in any recovery is not
affected by the decision whether or not to seek appointment as a
lead plaintiff, lead plaintiffs make important decisions which
could affect the overall recovery for class members. While Izard
Nobel LLP has not filed a lawsuit against the defendants, to view a
copy of the Complaint initiating the class action or for more
information about the case, class action cases in general, and your
rights, please contact Izard Nobel LLP toll-free at (800) 797-5499,
or by e-mail at firm@izardnobel.com, or visit our website:
www.izardnobel.com.
Perini (NYSE:PCR)
Historical Stock Chart
From May 2024 to Jun 2024
Perini (NYSE:PCR)
Historical Stock Chart
From Jun 2023 to Jun 2024