Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Everus Construction Group, Inc. due to allegations of violations of federal securities laws, with a deadline for investors to seek lead plaintiff status in a class action lawsuit by June 3, 2025 [2][4]. Group 1: Company Overview - Everus Construction Group, Inc. is publicly traded on NYSE under the ticker ECG [2]. - The company has faced significant stock price decline following the release of its fourth quarter and full year 2024 financial results, which indicated a shift in backlog composition leading to delayed revenue recognition [5]. Group 2: Allegations and Financial Impact - The complaint against Everus alleges that the company and its executives made false or misleading statements regarding the company's backlog conversion cycle, which has become elongated due to larger and more complex projects [4]. - Following the financial results announcement, Everus's stock price fell by 49.54 on February 13, 2025, amid unusually heavy trading volume [5]. Group 3: Legal Proceedings - Investors who suffered losses exceeding $75,000 between October 31, 2024, and February 11, 2025, are encouraged to contact Faruqi & Faruqi to discuss their legal options [1]. - The role of lead plaintiff in the class action is open to any member of the putative class, with the lead plaintiff being the investor with the largest financial interest [6]. Group 4: Call for Information - Faruqi & Faruqi is seeking information from whistleblowers, former employees, and shareholders regarding Everus's conduct [7].
ECG Investors Have the Opportunity to Lead the Everus Securities Fraud Lawsuit with Faruqi & Faruqi, LLP