Press release from Business Wire
Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Tetra Tech, Inc.
Tuesday, July 16, 2013
Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Tetra Tech, Inc.21:32 EDT Tuesday, July 16, 2013
BENSALEM, Pa. (Business Wire) -- Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of a class (the “Class”) comprising all purchasers of the securities of Tetra Tech, Inc. (“Tetra Tech” or the “Company”) (NASDAQ:TTEK) between May 3, 2012 and June 18, 2013, inclusive (the “Class Period”).
Tetra Tech provides consulting, engineering, program management, construction management and technical services for environment, energy, infrastructure and natural resources sectors. The Complaint alleges that the Company issued materially false and misleading statements regarding the Company's business, operational and compliance policies, and also failed to take necessary charges to its accounts receivables and earnings due to a significant number of projects which were subject to claims and equitable charges by federal and state government clients. Specifically, defendants misrepresented and/or failed to disclose that: (a) claims by customers and cost overruns created an acute risk that the Company would need to take an earnings charge; (b) decreasing demand for the Company's services would lead to project closures; and (c) the Company 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.
No class has yet been certified in this action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Tetra Tech stock during the Class Period, you have certain rights, and have until August 27, 2013 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you purchased Tetra Tech stock prior to the Class Period and have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire