A shareholder complaint that was filed in federal court on behalf of investors who purchased shares of the Company’s stock between November 20, 2017 and August 10, 2018 has survived a motion to dismiss. According to the complaint, during that time period Dycom and certain executive officers issued a series of false and misleading statements to investors, and failed to disclose that certain top customers had “cancelled millions of dollars’ worth of contracts,” which cost Dycom “millions of dollars in lost revenue and critical business relationships with key customers and permitting authorities.”
We are now investigating whether members of Dycom’s board of directors breached their fiduciary duties in connection with this alleged misconduct.
Current Dycom stockholders who purchased shares of the Company’s stock prior to November 20, 2017 have standing to seek corporate governance reforms, and possibly the return of funds back to the company coffers and potentially a court approved incentive award if appropriate.
If you have held DY shares continuously since at least November 20, 2017 and would like to learn more, contact jgrabar@grabarlaw.com
