NEW YORK, July 1, 2013 /PRNewswire/ --Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Tetra Tech, Inc. ("Tetra" or the "Company") (NASDAQ: TTEK).
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The investigation focuses on whether the Company and its executives violated federal securities laws with respect to its disclosures concerning business, operational, and compliance policies. Specifically, the investigation focuses on whether Tetra did not disclose (i) that it would be forced to take an earnings charge after failing to take necessary charges relating to customer claims and cost overruns and (ii) the extent that political and economic unrest in Eastern Canada would hurt its revenues in connection the Eastern Canadian mining and oil industry.
On June 18, 2013, the Company announced that it will incur restructuring costs from its Eastern Canadian and mining operations and that due to charges to resolve project claims, its prior guidance for the third quarter of 2013 would be revised to a diluted loss per share range of $0.30 to $0.50. Following this news, Tetra's stock price dropped $3.64 or over 13%.
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Take Action
If you invested in Tetra's stock or options between May 3, 2012 and June 18, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/TTEK. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.comor fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Tetra's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
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New York, NY 10017
Attn: Richard Gonnello, Esq.
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Francis McConville, Esq.
fmcconville@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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