December 23, 2019 - The case was voluntarily dismissed.

November 4, 2019 - An investor in shares of AZZ Inc. (NYSE: AZZ) filed a lawsuit in the U.S. District Court for the Northern District of Texas over alleged violations of Federal Securities Laws by AZZ Inc. in connection with certain allegedly false and misleading statements made between July 3, 2018 and October 8, 2019.

On May 17, 2019, AZZ Inc disclosed a material weakness in its internal control over financial reporting related to preparation and review of revenue reconciliations.

On May 20, 2019, before the market opened, AZZ Inc announced that it had replaced its independent auditor, BDO US, LLP, with Grant Thornton LLP.

On October 8, 2019, Azz Inc delayed its second quarter 2020 financial results “to allow the Company additional time to complete the review of the Form 10-Q for its fiscal year 2020 second quarter ended August 31, 2019.”

On October 25, 2019, AZZ announced that its Chief Accounting Officer “will leave the Company effective October 31, 2019.”

According to the complaint the plaintiff alleges on behalf of purchasers of AZZ Inc. (NYSE: AZZ) common shares between July 3, 2018 and October 8, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between July 3, 2018 and October 8, 2019, the Defendants failed to disclose to investors that the Company’s internal controls over financial reporting were not effective, that the Company improperly implemented ASC 606 which resulted in improper revenue reconciliations, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.