Thieler Law Corp advises investors with losses exceeding $100,000 of the October 15, 2019 lead plaintiff deadline in a class action lawsuit filed against Granite Construction Incorporated (NYSE: GVA) (“Granite” or “the Company”). The suit is pending in the U.S. District Court for the Northern District of California and investors, who purchased Granite Construction Incorporated securities between October 26, 2018 and August 1, 2019, have until October 15, 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 Granite Construction Incorporated 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 the Company had assumed certain risks in connection with its heavy civil joint venture projects bid between 2012 and 2014; there was an “untenable” imbalance of risk sharing between the Company and the joint venture project owners; as a result, the Company was reasonably likely to incur additional project costs for its joint venture projects; the Company was reasonably likely to incur additional costs in connection with certain project disputes; and as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects and prospects were materially misleading and/or lacked a reasonable basis.

On July 29, 2019, the Company revealed its preliminary financial results for the second quarter of 2019, disclosing a net loss per diluted share in the range of $2.05 to $2.10 for the quarter and revising its fiscal year 2019 guidance. Granite stated that its results were impacted by non-cash charges related to four legacy, unconsolidated heavy civil joint venture projects.

Following this news, NYSE: GVA fell $7.98 per share, or 17.94%, to close at $36.49 per share on July 30, 2019.

If you were negatively impacted by your investment in Granite Construction Incorporated securities between October 26, 2018 and August 1, 2019 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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