Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of shareholders of Willbros Group, Inc. (“Willbros” or the “Company”) (NYSE:WG) concerning possible violations of federal securities laws.
Please contact Lesley Portnoy or Casey Sadler at (310) 201-9150, or at shareholders@glancylaw.com to discuss this matter. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
On October 21, 2014, the Company announced that it would restate second quarter 2014 results after identifying approximately $22 to $24 million in losses caused by the deterioration of a “significant pipeline construction project.” The Company further stated that, “this deterioration consists of the reversal of approximately $8.0 million in pre-tax income previously recognized and the recognition of approximately $14.0 to $16.0 million in estimated pre-tax losses at project completion.” The Company also stated that its Audit Committee is evaluating the sufficiency of the Company’s internal controls. As a result of this news, Willbros stock dropped $2.56 per share, or over 33%, to close at $5.09 per share on August 13, 2014, on heavy volume.
If you purchased Willbros shares, if you have information, or would like to learn more, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, or Casey Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts:
Lesley Portnoy
Casey
Sadler
(888) 773-9224
shareholders@glancylaw.com
www.glancylaw.com
