CASES
Northwest Pipe Co.
Class Period: Apr 2, 2007 to Mar 30, 2010
Lead Plaintiff Deadline: Jan 19, 2010 + Deadline passed
Summary of Case:
A securities class action has been filed against Northwest Pipe Co. (NWPX) ("Northwest Pipe" or the "Company") on behalf of all securities purchasers from April 23, 2008 through November 11, 2009, inclusive ("Class Period"), in the United States District Court for the Western District of Washington.
The complaint alleges that throughout the class period defendants issued materially false and misleading statements regarding Northwest Pipe's business and financial results. Specifically, the defendants overstated the Company's revenues and earnings by failing to recognize revenues in accordance with Generally Accepted Accounting Principles. As a result of the challenged statements, Northwest Pipe common stock traded at artificially inflated prices throughout the Class Period.
On November 11, 2009, the Company announced that it was delaying the filing of its Quarterly Report for the quarter ended September 30, 2009, pending the conclusion of an ongoing internal investigation of certain accounting matters. On November 12, 2009, the Company's stock dropped $4.49 per share to close at $26.74, a one-day decline of 14.37%.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.