Press release from Business Wire
Law Offices of Todd M. Garber Announces Investigation of Tetra Tech, Inc.
Tuesday, July 09, 2013
Law Offices of Todd M. Garber Announces Investigation of Tetra Tech, Inc.23:32 EDT Tuesday, July 09, 2013
LOS ANGELES (Business Wire) -- The Law Offices of Todd M. Garber announces that it is investigating potential claims against Tetra Tech, Inc. (“Tetra Tech” or the “Company”) (NASDAQ:TTEK) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by Tetra Tech between May 3, 2012 and June 18, 2013 regarding the Company's business and financial prospects.
Tetra Tech provides consulting, engineering, program management, construction management and technical services for environment, energy, infrastructure and natural resources sectors. Tetra Tech derives a significant portion of its revenues from federal agencies, and the Company is subject to claims and equitable determinations by its clients, which may require further unbilled work by the Company or adjustments to prior billing invoices for previously billed work. Generally Accepted Accounting Principles (“GAAP”) require that Tetra Tech account for these potential charges to accounts receivable on an ongoing basis.
The investigation is related to allegations that Tetra Tech failed to take necessary charges to its accounts receivables and earnings on projects that were subject to claims and equitable charges by certain governmental clients, and that the Company also failed to inform investors the extent to which Tetra Tech's revenues would be impacted by an overall decline in the Eastern Canadian mining and oil industry resulting from large political and economic unrest in the region.
If you purchased Tetra Tech securities during the foregoing period, if you have information or would like to learn more about these claims, or if you purchased Tetra Tech shares prior to May 3, 2012 and wish to discuss these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to email@example.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law