Press release
Investigation announced for Investors in shares of MasTec, Inc. (NYSE: MTZ) over possible Violations of Securities Laws
An investigation for investors in MasTec, Inc. (NYSE: MTZ) shares over potential securities laws violations by MasTec, Inc.
Investors who purchased shares of MasTec, Inc. (NYSE: MTZ), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of MasTec, Inc. (NYSE: MTZ) concerning whether a series of statements by MasTec, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Coral Gables, FL based MasTec, Inc., an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. MasTec, Inc. reported that its annual Total Revenue rose from over $7.95 billion in 2021 to over $9.77 billion in 2022, and that its Net Income declined from $328.83 million in 2021 to $33.35 million in 2022.
On August 3, 2023, MasTec, Inc. announced it missed its estimates for the second quarter of 2023. The Company also revised downwards its 2023 guidance, blaming slowdowns in its communications margins for the revision. Analysts critiqued the Company for its "over-promise, under-deliver halo" concerning overly optimistic guidances which fail to materialize.
Shares of MasTec, Inc. (NYSE: MTZ) declined from $123.33 per share on July 03, 2023, to as low as $62.60 per share on October 13, 2023.
Those who purchased shares of MasTec, Inc. (NYSE: MTZ) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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