Class Action Lawsuit Filed Against Everus Construction Group, Inc:
NEW YORK, April 14, 2025 – Pomerantz LLP, a leading national securities law firm, announces that a class action lawsuit has been filed against Everus Construction Group, Inc. (“Everus” or the “Company”) (NYSE: ECG). The lawsuit, filed in the United States District Court for the Southern District of New York, alleges that Everus and certain of its executives and directors made materially false and misleading statements and failed to disclose material information regarding Everus’ business, operations, and financial condition.
Alleged Misstatements and Failure to Disclose:
According to the complaint, Everus made false and/or misleading statements and/or failed to disclose that:
- The Company’s financial statements for the periods ending December 31, 2022, and December 31, 2023, contained material misstatements;
- Everus had inadequate internal controls over financial reporting;
- The Company’s revenue growth was due in part to improper revenue recognition;
- The Company had experienced significant executive turnover;
- The Company’s business prospects were not as strong as represented;
Impact on Investors:
As a result of these allegations, investors who purchased or otherwise acquired Everus securities between January 1, 2023, and March 31, 2025, inclusive (the “Class Period”), may be entitled to recover their economic loss, including upfront and out-of-pocket damages, as well as interest and attorneys’ fees and costs. The plaintiff seeks to recover damages on behalf of all purchasers of Everus securities during the Class Period.
Impact on the World:
The filing of this class action lawsuit against Everus Construction Group, Inc. is significant as it highlights the importance of accurate financial reporting and corporate transparency. The lawsuit alleges that Everus made materially false and misleading statements and failed to disclose material information, which can erode investor confidence and potentially harm the reputation of the Company and the construction industry as a whole. This case serves as a reminder to all publicly traded companies to ensure the accuracy and completeness of their financial statements and to provide timely disclosures to investors.
Conclusion:
The filing of a class action lawsuit against Everus Construction Group, Inc. is a serious matter that may have far-reaching implications for the Company and its investors. If you are an Everus investor who purchased or otherwise acquired Everus securities during the Class Period, you may be entitled to recover your economic loss. It is important to consult with an experienced securities law firm as soon as possible to discuss your legal rights and options. Meanwhile, the world watches closely as the legal proceedings unfold, with the potential to impact not only Everus but also the construction industry as a whole.
