Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Advanced Drainage Systems Inc (NYSE: WMS) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Advanced Drainage Systems Inc (NYSE: WMS) concerning whether a series of statements by Advanced Drainage Systems Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On July 15, 2015, the Company revealed that it would have to delay the filing of its Form 10-K for the fiscal year ended March 31, 2015. Advanced Drainage Systems then revealed several accounting indiscretions, including inappropriate entries and adjustments to its financials.
In July 2018, The SEC filed a cease and desist order against and found that CFO Mark Sturgeon “willfully” caused the Company to manipulate its financial results.
Based in Hilliard, Ohio, and founded in 1966 Advanced Drainage Systems Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the underground construction and infrastructure marketplace worldwide.
If you purchased shares of Advanced Drainage Systems Inc (NYSE: WMS) on or before July 15, 2015, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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