Core Viewpoint - A securities class action lawsuit has been filed against Everus Construction Group, Inc. for allegedly misleading investors regarding the company's business operations and revenue recognition during a specific class period [1][2]. Group 1: Lawsuit Details - The lawsuit was filed in the United States District Court for the Southern District of New York on behalf of all individuals or entities that purchased Everus Construction securities between October 31, 2024, and February 11, 2025 [1]. - The complaint alleges that Everus Construction's backlog conversion cycle has become elongated due to larger, more complex projects, leading to delayed revenue recognition [2]. - The lawsuit claims that the defendants' positive statements about Everus Construction's business and prospects were materially misleading and lacked a reasonable basis [2]. Group 2: Investor Information - Investors who acquired shares of Everus Construction are encouraged to contact the law firm before the lead plaintiff motion deadline of June 3, 2025 [3]. - A lead plaintiff will act on behalf of other class members in directing the litigation [3].
Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Everus Construction Group, Inc. (ECG)