Thieler Law Corp advises investors with losses exceeding $100,000 of the April 2, 2019 lead plaintiff deadline in a class action lawsuit filed against Astec Industries Inc (NASDAQ: ASTE) (“Astec” or “the Company”). The suit is pending in the U.S. District Court for the Eastern District of Tennessee and investors, who purchased Astec Industries Inc securities between July 26, 2016 and October 22, 2018, have until April 2, 2019 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Astec Industries Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 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 Astec’s wood pellet plants suffered from significant and costly problems that prevented the plants from running at their promised production capacity; this posed a threat to Astec’s pellet plant business, overall financial performance, and financial outlook; and as a result, defendants’ statements regarding Astec’s outlook and expected financial performance were materially false and misleading at all relevant times.

On July 24, 2018, the Company announced financial results for the second quarter of 2018 and revealed that the Company was exiting from its contractual obligations concerning the Highland wood pellet plant in Arkansas "driven by unresolved issues, which inhibited the plant's ability to meet contractual provisions by the date required by the Company's sales contract with Highland." Therefore, the Company "agreed to pay $68 million in cash in the aggregate over the course of the next 120 days and forgive approximately $7 million in receivables."

Following this news, NASDAQ: ASTE fell $12.59 per share or more than 20%, to close at $48.21 on July 24, 2018.

If you were negatively impacted by your investment in Astec Industries Inc securities between July 26, 2016 and October 22, 2018 and 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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