NEW YORK CITY, NY / ACCESS Newswire / February 19, 2025 / Pomerantz LLP is investigating claims on behalf of investors of Dycom Industries, Inc ("Dycom" or the "Company") (NYSE:DY). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Dycom and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On February 19, 2025, Spruce Point Management ("Spruce Point") published a report on Dycom, "rais[ing] concerns about the long-term sustainability of the Company’s revenue stemming from the pressures that its clients and the telecommunications industry are facing." Among other points, the Spruce Point report also alleged that Dycom’s "history of not disclosing a familial relationship between its previous long-time CEO and an executive of Frontier Communications, one of the Company’s biggest customers, should be heavily scrutinized" and that "[t]he Company’s past two Chief Accounting Officers and a recently appointed Board member all had senior financial accounting roles at companies that restated results and had internal control issues."
Following publication of the Spruce Point report, Dycom’s stock price fell sharply during intraday trading on February 19, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: Pomerantz LLP
View the original press release on ACCESS Newswire
COMTEX_462935691/2457/2025-02-19T14:01:42