Investigation Overview
August 13, 2018 (Update) - On August 13, 2018, after the market closed, Hill International, Inc. announced that it would not be able to file its delinquent annual report for the year ended December 31, 2017, and quarterly reports for the first and second quarters of 2018 by the extended deadline granted by the NYSE. As a result of not being able to file these reports by the extended deadline, Hill International disclosed that the NYSE announced it suspended the trading of Hill International common stock and commenced proceedings to delist Hill Internationals stock from the NYSE.
On September 21, 2017, Hill International, Inc. announced that it needed to restate previously issued financial statements for the years ended December 31, 2014, 2015, and 2016 as well as quarters ended March 31, June 30, and September 30 in 2015 and 2016.
On August 10, 2017, Hill International, Inc. announced that it was delaying the filing of its second quarter 2017 financial results.
November 4, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Hill International Inc (NYSE:HIL) shares over potential securities laws violations by Hill International and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Hill International Inc (NYSE:HIL) concerning whether a series of statements by Hill International Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Hill International Inc reported that its annual Total Revenue rose from $641.59 million in 2014 to $720.61 million in 2105 and that its Net Loss of $6.15 million in 2014 turned into a Net Income of $6.93 million in 2015. Shares of Hill International Inc (NYSE:HIL) grew from $2.89 per share in February 2016 to as high as $4.61 per share in September 2016.
On November 3, 2016 Hill announced that it will delay the release of its third quarter 2016 financial results due to continuing discussions with its independent accounting firm regarding the accounting treatment of certain accounts receivable the outcome of which could have a material effect on the companys financial position and results of operations.
Shares of Hill International Inc (NYSE:HIL) dropped from $4.00 per share on October 28, 2016 to as low as $2.00 per share on November 4, 2016.