Aecom (NYSE:ACM) Investor Securities Class Action Lawsuit 09/01/2016

If you purchased a significant amount of shares of Aecom (NYSE:ACM) between February 11, 2015 and August 15, 2016, and / or if you purchased any NYSE:ACM shares prior to February 2015 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: October 31, 2016. NYSE:ACM investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Aecom
Case Name: 
Aecom Shareholder Class Action Lawsuit 09/01/2016
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: ACM
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
09/01/2016
Class Period Begin: 
02/11/2015
Class Period End: 
08/15/2016
Court of Filing: 
U.S. District Court for the Central District of California
Deadline To File for Lead: 
10/31/2016
Summary: 

September 1, 2016 (Shareholders Foundation) - An investor in shares of Aecom (NYSE:ACM) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Aecom in connection with certain allegedly false and misleading statements made between February 11, 2015 and August 15, 2016.

On October 17, 2014, AECOM announced that the Company had finalized its acquisition of URS Corp. (“URS” and the “URS Acquisition”).

According to the complaint the plaintiff alleges on behalf of purchasers of Aecom (NYSE:ACM) common shares between February 11, 2015 and August 15, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 11, 2015 and August 15, 2016 Defendants made false and/or misleading statements and/or failed to disclose that AECOM engaged in fraudulent and deceptive business practices, that AECOM lacked effective internal controls over financial reporting, that AECOM overstated the benefits of the URS Acquisition, that AECOM overstated the Company’s free cash flow per share, and that as a result of the foregoing, AECOM’s public statements were materially false and misleading at all relevant times.

Aecom reported that its Total Revenue rose from over $8.35 billion for the 12 months period that ended on Sept. 30, 2014 to over $17.98 billion for the 12 months period that ended on Sept. 30, 2015 and that its Net Inceom of $229.85 million for the 12 months period that ended on Sept. 30, 2014 declined to a Net Loss of $154.84 million for the 12 months period that ended on Sept. 30, 2015.

On August 16, 2016, an article was published about AECOM stating, “after a careful forensic financial and accounting analysis of AECOM’s recent financial results and condition, we believe that AECOM’s stock is worth approximately 33% - 45% less than its current price.” The Report also noted that there are “material weaknesses of internal controls over financial reporting associated with [the Company’s] acquisition of URS [Corp.]” and AECOM management’s “misaligned incentive structure,” pursuant to which the Company’s “CEO’s $18 million compensation in 2015 [was] heavily tied to its aggressive interpretation of its Free Cash Flow per share.”