Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Eastern District of Tennessee on behalf of shareholders of Astec Industries, Inc. who purchased shares between July 26, 2016 and October 22, 2018.
The filed complaint alleges that defendants made false and misleading statements and/or failed to disclose adverse information regarding Astec’s business, operations and prospects, including that its wood pellet plants suffered from significant and costly problems that prevented them from running at their promised production capacity, posing a threat to the Company’s pellet plant business, its overall financial performance, and its financial outlook.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until April 2, 2019 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
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