Securities SettlementsGrana y Montero SAA (NYSE: GRAM) Shareholder Lawsuit Settlement

Did you purchase Grana y Montero SAA (NYSE: GRAM) stock between 07/24/2013 - 02/24/2017? If so, you may be entitled to compensation, Call 1-800-934-2921 or complete the form on this page for a free consultation.
December 17, 2020

Our law firm is filing potential claims on behalf of shareholders of Grana y Montero SAA (NYSE: GRAM) , stemming from a recent settlement of a shareholder lawsuit against the company.

Did you purchase Grana y Montero SAA (NYSE: GRAM) stock between 07/24/2013 – 02/24/2017? If so, you may be entitled to compensation,
Call 1-800-934-2921 or complete the form on this page for a free consultation.

Our law firm is filing claims on behalf of Grana y Montero SAA (NYSE: GRAM) shareholders stemming from the recent settlement of the shareholder lawsuit against the company. If you purchased Grana y Montero SAA (NYSE: GRAM)   during the class period above, contact our law firm to protect your rights.

A shareholder class action lawsuit against Peruvian engineering, infrastructure, real estate, and construction firm Graña y Montero that alleged violated key provisions of the Securities Exchange Act of 1934 has settled for $20 million. The class in this complaint is comprised of all individuals and institutional entities that purchased the company’s American Depository Shares (ADSs) from April of 2014 through February of 2017.

The complaint asserts that during the period stretching from 2005 to 2011, a subsidary of the firm was involved in the building of roads traversing portions of Peru and Brazil in a project that was headed by a Brazilian company known as Odebrecht SA.

It is further alleged that during the relevant time period, the company’s required public securities filing did not disclose this key relationship and also made claims about its commitment to high standards of corporate goverance, professionalism, and reliability.

The class is arguing that those publicly filed statements contained material misrepresentations because its leaders were aware of the fact that Odebrecht paid bribes to Alejandro Toledo, the former president of Peru, as a means to secure participation in the construction work. Bribery of this sort, if true, would constitute a violation of the U.S. Foreign Corrupt Practices Act, and, as the plaintiffs in this case allege, would also amount to a type of securities fraud.

A U.S. Department of Justice announcement in late 2016 revealed that Odebrecht had indeed admitted to bribing Toledo and also accepted a penalty that would resolve pending charges with authorities in Brazil, Switzerland, and the United States.

In February of 2017, a Reuters report claimed that Graña y Montera had been aware all along about Odebrecht’s conduct in bribing Toledo. It was alleged that the companies involved in the construction projects may not have known the specifics of the payments, but that they did have knowledge of the agreement that was in place.

Once that news became public, Graña y Montera’s ADSs dropped in value by more than 34%, causing those who had acquired them during the class period to suffer significant financial losses, according to the complaint.

Settlement of Grana y Montero SAA (NYSE: GRAM) Shareholder Lawsuit

Signet Jewelers Ltd. (NYSE:SIG) investors may be able to collect significant financial compensation for their losses. The recent settlement with the company has set aside potentially hundreds of millions of dollars for compensating shareholders.

Buy shares of GRAM? Grana y Montero SAA (NYSE: GRAM) Shareholder Lawsuit Settlement. Contact us to protect your rights.

Did you purchase Grana y Montero SAA (NYSE: GRAM) stock between 07/24/2013 – 02/24/2017? If so, you may be entitled to compensation,
Call 1-800-934-2921 or complete the form on this page for a free consultation.