Mar. 15, 2013 (Shareholders Foundation) - A substantial stock price drop prompted an investigation on behalf of investors of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) shares over potential securities laws violations by Great Lakes Dredge & Dock Corporation and certain of its directors and officers in connection certain financial statements.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) concerning whether a series of statements by Great Lakes Dredge & Dock regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) reported that its annual Total Revenue declined from $686.92 million in 2010 to $627.33 million in 2011 and that its Net Income fell from $34.61 million in 2010 to $16.53 million in 2011. For the first three quarters in 2012 Great Lakes Dredge & Dock Corporation reported a combined nine months of $488.20 million with a combined nine months Net Income of $3.38 million.

Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) rose from $1.92 per share in March 2009 to as high as $9.96 per share on March 8, 2013.

Then on March 14, 2013, Great Lakes Dredge & Dock Corporation reported financial results for the quarter and year ended December 31, 2012. Among other things, Great Lakes Dredge & Dock Corporation also announced that it will restate the second and third quarter 2012 results and that its President and COO was terminated effective March 13, 2013.

Shares of Great Lakes Dredge & Dock Corporation dropped from $9.00 per share on March 14, 2013, to as low as $7.18 per share on March 15, 2013.