An investigation on behalf of investors of Lendlease Group (OTC: LLES) shares over potential securities laws violations by Lendlease Group and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Lendlease Group (OTC: LLES) concerning whether a series of statements by Lendlease Group regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Sydney based Lendlease Group provides property and infrastructure solutions in Australia, Asia, Europe, and the Americas. Lendlease Group reported that its Total Revenue rose from over 16.46 billion AUD for the 12 months period that ended on June 30, 2018, to 16.52 billion AUD for the 12 months peridot that ended on June 30, 2019, and that its Net Income over those respective tie periods declined from 792.8 million AUD to 467 million AUD.

On November 9, 2018, Lendlease Group announced that it required a previously unannounced provision of AU$350M due to significant underperformance in its engineering division relating to a number of projects.