An investor in NYSE:GRAM shares filed a lawsuit against Grana y Montero SAA over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Grana y Montero SAA (ADR) (NYSE:GRAM) have certain options and for certain investors are short and strict deadlines running. Deadline: April 28, 2017. NYSE:GRAM investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that Graña y Montero was aware that its Brazilian partner Odebrecht S.A. paid bribes to former Peruvian President Alejandro Toledo to win construction work on a road traveling from Peru to Brazil; and that as a result, defendants’ statements about Graña y Montero’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Peru based Grana y Montero SAA is a holding company primarily engaged in the construction and Engineering Industry, Real Estate, Oil Services, and Operation of Public Concessions and Business Support Services.
On February 24, 2017,an article was published highlighting a report that Graña y Montero knew about $20 million in bribes paid to former Peruvian President Alejandro Toledo by its partner Odebrecht. Graña y Montero was one of Odebrecht’s local partners on two sections of a project to pave a road from the Peruvian Amazon to Brazil. Shares of Grana y Montero SAA (ADR) (NYSE:GRAM) declined from $5.10 per share on February 24, 2017 to $2.20 per share on February 27, 2017.
Those who purchased NYSE:GRAM shares have certain options and should contact the Shareholders Foundation.
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