Lawsuit filed for Investors who lost money with shares of Everus Construction Group, Inc. (NYSE: ECG)

An investor, who purchased shares of Everus Construction Group, Inc. (NYSE: ECG), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Everus Construction Group, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Everus Construction Group, Inc. (NYSE: ECG) have certain options and for certain investors are short and strict deadlines running. Deadline: June 3, 2025. NYSE: ECG investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Bismarck, ND based Everus Construction Group, Inc. provides contracting services in the United States. On February 11, 2025, after the market closed, Everus released its fourth quarter and full year 2024 financial results.

Everus Construction Group also revealed that "[g]iven the current mix of [the Company's] backlog," its "backlog conversion" would be "extended relative to [the] historical pattern over the coming quarters." The Company explained its average project size had been getting "larger, more complex and longer." The Company further revealed that, as a result of this shift in backlog composition, "heading into 2025" the Company "expect[s] revenue in the range of $3.0 billion to $3.1 billion and EBITDA in the range of $210 million to $225 million for the year."

Shares of Everus Construction Group, Inc. (NYSE: ECG) declined from $77.93 per share on January 24, 2025, to as low as $31.38 per share on April 04, 2025.

The plaintiff claims that between October 31, 2024 and February 11, 2025, the Defendants failed to disclose to investors that the Company's backlog conversion cycle had become elongated due to larger, more complex projects, that as a result, the Company's revenue recognition would be delayed, and thatas a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Everus Construction Group, Inc. (NYSE: ECG) 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.

This release was published on openPR.