AZZ INC. NEW YORK, Jan. 9, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of AZZ Inc. ("AZZ" or the "Company") (NYSE: AZZ). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/azz.
The investigation concerns whether AZZ and certain of its officers and/or directors have violated Sections federal securities laws.
On January 9, 2018, AZZ announced "that the Company historically should have accounted differently for certain contracts within its Energy Segment." Specifically, the Company reported that revenue for the contracts at issue "was historically recognized for the Energy Segment upon transfer of title and risk to customers or based upon the percentage of completion method of accounting for electrical products built to customer specifications," but that "in the case of contracts for which revenue was recorded upon contract completion and transfer of title, the Company instead should have applied the percentage of completion method." AZZ advised investors that it "is currently reviewing whether . . . there are any significant impacts to the Company's audited consolidated financial statements for the fiscal years ended February 28, 2015 and 2017, and the fiscal year ended February 29, 2016, as contained in its 2017 Annual Report on Form 10-K and the previously issued unaudited financial statements contained in its Quarterly Reports on Form 10-Q for the quarters ended May 31, 2017 and August 31, 2017." On this news, AZZ's share price has fallen sharply during intraday trading on January 9, 2018.
If you are aware of any facts relating to this investigation, or purchased shares of AZZ, you can assist this investigation by visiting the firm's site: www.bgandg.com/azz. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
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