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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of January 13, 2021 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
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August 18, 2020 - The court granted preliminary approval of the settlement.
July 2, 2020 - A stipulation and agreement of settlement was filed.
May 10, 2019 - A second consolidated amended complaint was filed.
May 29, 2018 - A consolidated amended complaint was filed.
February 27, 2017 - An investor in shares of Grana y Montero SAA (ADR) (NYSE: GRAM) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Grana y Montero SAA in connection with certain allegedly false and misleading statements made between April 30, 2014 and February 24, 2017.
According to the complaint the plaintiff alleges on behalf of purchasers of Grana y Montero SAA (ADR) (NYSE: GRAM) common shares between April 30, 2014 and February 24, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 30, 2014 and February 24, 2017, the defendants made false and/or misleading statements and/or failed to disclose that Grana y Montero SAA was aware that its Brazilian partner Odebrecht S.A. paid bribes to former Peruvian President Alejandro Toledo to win construction work on a road traveling from Peru to Brazil; and that as a result, defendants’ statements about Grana y Montero SAA’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Peru based Grana y Montero SAA is a holding company primarily engaged in the construction and Engineering Industry, Real Estate, Oil Services, and Operation of Public Concessions and Business Support Services.
On February 24, 2017,an article was published highlighting a report that Grana y Montero SAA knew about $20 million in bribes paid to former Peruvian President Alejandro Toledo by its partner Odebrecht. Grana y Montero SAA was one of Odebrecht’s local partners on two sections of a project to pave a road from the Peruvian Amazon to Brazil. Shares of Grana y Montero SAA (ADR) (NYSE: GRAM) declined from $5.10 per share on February 24, 2017 to $2.20 per share on February 27, 2017.