Levi & Korsinsky announces the commencement of a class action lawsuit in the United States District Court for the Eastern District of New York on behalf of shareholders of Graña y Montero S.A.A. (NYSE : GRAM) who purchased shares between July 24, 2013 and February 24, 2017.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Graña 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 (2) as a result, defendants’ statements about Graña's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. On February 24, 2017, Reuters published an article highlighting a report that Graña was aware of about $20 million in bribes paid to former Peruvian President Alejandro Toledo by its partner Odebrecht. On this news, shares of Graña fell over 34% to close $3.32 per share on February 24, 2017.
If you suffered a loss in Graña y Montero S.A.A. you have until April 28, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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