Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of AECOM (NYSE: ACM) 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 AECOM (NYSE: ACM) concerning whether a series of statements by AECOM regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On August 16, 2016, an article release by Spruce Point Capital Management in regards to AECOM stated, "after a careful forensic financial and accounting analysis of AECOM's recent financial results and condition, we believe that AECOM's stock is worth approximately 33% - 45% less than its current price." The report also noted that there is "material weaknesses of internal controls over financial reporting associated with [the Company's] acquisition of URS [Corp.]" and AECOM management's "misaligned incentive structure," pursuant to which the Company's "CEO's $18 million compensation in 2015 [was] heavily tied to its aggressive interpretation of its Free Cash Flow per share."
On this news, NYSE: ACM dropped as much 4.93% during intraday trading on August 16, 2016.
Based in Los Angeles, CA, and founded in 1980 AECOM engages in designing, building, financing, and operating infrastructure assets globally.
If you purchased shares of AECOM (NYSE: ACM) on or before August 16, 2016, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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