| Company: | Northwest Pipe |
| Ticker Symbol: | NWPX |
| Class Period: | Apr-23-08 to Nov-11-09 |
| Date Filed: | Dec-2-09 |
| Lead Plaintiff Deadline: | Jan-31-10 |
| Court: | Western District of Washington |
| Allegations: | |
The Complaint charges that Northwest Pipe and certain of its officers and directors violated federal securities laws. The Complaint alleges that throughout the Class Period defendants knew or recklessly disregarded that their public statements concerning Northwest Pipe's business and financial performance were materially false and misleading. Specifically, defendants overstated the Company's revenues and earnings by failing to recognize revenues in accordance with Generally Accepted Accounting Principles ("GAAP").
On November 12, 2009, Northwest Pipe announced that the Company was delaying the filing of its Quarterly Report for the quarter ended September 30, 2009, pending the conclusion of an ongoing internal investigation being conducted by Northwest Pipe's Audit Committee into certain accounting matters, including revenue recognition practices. On this news, the price of Northwest Pipe stock dropped $4.49 per share from the previous day, to close at $26.74 per share on November 12, 2009 -- a one-day drop of more than 14%.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
