Gainey McKenna & Egleston Announces a Class Action Lawsuit has been Filed Against Dycom Industries, Inc. (DY)


NEW YORK, Oct. 26, 2018 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Dycom Industries, Inc. (“Dycom” or the “Company”) (NYSE: DY) in the United States District Court for the Southern District of Florida on behalf of a class consisting of investors who purchased or otherwise acquired Dycom securities between November 20, 2017 and August 10, 2018, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s large projects were highly dependent on permitting and tactical considerations, (ii) the Company was facing great uncertainties related to permitting issues; (iii) said uncertainties would expose the Company to near-term margin pressure and absorption issues, and (iv) as a result of the foregoing, Defendants’ statements about the Company’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the December 24, 2018 lead plaintiff motion deadline.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.