| COMPANY |
Dycom Industries, Inc. |
| COURT |
United States District Court for the Southern District of Florida |
| CASE NUMBER |
18-cv-81448 |
| JUDGE |
The Hon. Raag Singhal |
| CLASS PERIOD |
November 20, 2017 and August 10, 2018 |
| SECURITY TYPE |
Common Stock |
Case Background:
On October 25, 2018, the initial complaint in this securities class action was filed against Dycom Industries, Inc. (“Dycom”), and certain of Dycom’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action lawsuit brought on behalf of all persons or entities that purchased or otherwise acquired Dycom common stock between November 20, 2017 and August 10, 2018, both dates inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Dycom’s large projects were highly dependent on permitting and tactical considerations, (2) Dycom was facing great uncertainties related to permitting issues; (3) said uncertainties would expose Dycom to near-term margin pressure and absorption issues, and (4) as a result of the foregoing, Defendants’ statements about Dycom’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Current Status of Case:
On May 1, 2020, the parties engaged in a mediation session and were able to reach an agreement in principle to settle the action for $9,500,000. On July 9, 2020, the Court granted Preliminary Approval of the Settlement. On October 13, 2020, the Court granted Final Approval of the Settlement and entered Final Judgment. This action has concluded.
The deadline to file a claim is October 8, 2020. If you have any questions or need further information about this settlement, you may go to the following website, http://www.dycomindustriessecuritiessettlement.com/, or you can contact the claims administrator, A.B. Data, Ltd. at 1-866-905-8127.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.