Core Viewpoint - A class action securities lawsuit has been filed against Everus Construction Group, Inc. for alleged securities fraud affecting investors between October 31, 2024, and February 11, 2025 [1][2]. Group 1: Allegations and Impact - The lawsuit claims that the defendants made false statements and concealed information regarding the Company's backlog conversion cycle, which had become elongated due to larger and more complex projects [2]. - As a result of the elongated backlog conversion cycle, the Company's revenue recognition would be delayed, leading to materially misleading positive statements about the Company's business and prospects [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until June 3, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, with no obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].
Levi & Korsinsky Reminds Everus Construction Group, Inc. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of June 3, 2025 - ECG