Aecom (NYSE:ACM) Investor Investigation Over Possible Violations Of Securities Laws Announced

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Company Name(s): 
Aecom
Affected Securities: 
NYSE: ACM

August 18, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Aecom (NYSE:ACM) shares over potential securities laws violations by Aecom 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 Aecom (NYSE:ACM) concerning whether a series of statements by Aecom regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Aecom reported that its Total Revenue rose from over $8.21 billion for the 12 months period that ended on Sept. 30, 2012 to over $8.35 billion for the 12 months period that ended on Sept. 30, 2014 and that its Net loss of $58.57 million for the 12 months period that ended on Sept. 30, 2012 turned to a Net Income of $229.85 million for the 12 months period that ended on Sept. 30, 2014. Shares of Aecom (NYSE:ACM) grew from $15.16 per share on June 2012 to as high as $37.84 per share in August 2014.

On August 12, 2015, Aecom reported its third quarter fiscal year 2015 results. Among other things, Aecom said that the federal government is investigating three affiliates of the company in connection with their work at federal facilities in Hanford, Washington: (i) URS Energy & Construction, regarding contractual compliance and technical issues in design, development and construction of a waste treatment plant; (ii) Washington River Protection Solutions JV, regarding time keeping of employees and the circumstances surrounding the affiliate's response to a leak within the tank farms on the Hanford nuclear reservation; and (iii) Washington Closure Hanford JV, regarding contracting procedures.
Shares of Aecom (NYSE:ACM) declined to as low as $27.14 per share on August 12, 2015.