Core Viewpoint - A class action lawsuit has been filed against Everus Construction Group, Inc. for allegedly making materially false and misleading statements regarding its business operations and prospects during the specified class period [1][3]. Summary by Relevant Sections Lawsuit Details - The lawsuit is filed in the United States District Court for the Southern District of New York on behalf of all individuals and entities who purchased Everus securities between October 31, 2024, and February 11, 2025 [1]. - Investors have until June 3, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit [1]. Allegations Against the Company - The Complaint alleges that the defendants failed to disclose that the Company's backlog conversion cycle had become elongated due to larger, more complex projects [3]. - It is claimed that this elongation would lead to delays in revenue recognition for the Company [3]. - The positive statements made by the defendants regarding the Company's business, operations, and prospects were allegedly materially misleading and lacked a reasonable basis due to these undisclosed facts [3].
EVERUS ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Everus Construction Group, Inc. and Encourages Investors to Contact the Firm