Thieler Law Corp advises investors with losses exceeding $100,000 of the September 28, 2015 lead plaintiff deadline in a class action lawsuit filed against Advanced Drainage Systems Inc (NYSE: WMS) (“Advanced Drainage” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Advanced Drainage securities between September 5, 2014 and July 14, 2015, have until September 28,2015 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Advanced Drainage securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 866-6157 or emailing mail@thielerlaw.com .  No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Advanced Drainage Systems’ inventory values and cost of sales were misstated its’ transportation and equipment leases should be recorded as capital leases. The complaint states further that due to the lack of these disclosures, Advanced Drainage Systems’ financial statements were materially false and misleading during the time specified in the lawsuit.

OnJuly 15, 2015, the Company announced that it had delayed the filing of its Annual Report on Form 10-K for the fiscal year ended March 31, 2015. In its release, Advanced Drainage announced that any necessary adjustments to its previously issued earnings release for the fourth quarter and full fiscal year 2015 would be made with the filing of its Form 10-K. After this announcement was made, NYSE: WMS  stock declined $0.56 per share to closing on July 15, 2015 at $28.69 per share.

If you were negatively impacted by your investment in Advanced Drainage securities between September 5, 2014 and July 14, 2015and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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