SNC-Lavalin Group Inc. (OTC: SNCAF) Investor Investigation Over Possible Violations Of Securities Laws

Investors who purchased shares of SNC-Lavalin Group Inc. (OTC: SNCAF), have certain options and should contact the Shareholders Foundation, Inc.

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Company Name(s): 
SNC-Lavalin Group
Affected Securities: 

An investigation on behalf of investors of SNC-Lavalin Group Inc. (OTC: SNCAF) shares over potential securities laws violations by SNC-Lavalin Group Inc. 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 SNC-Lavalin Group Inc. (OTC: SNCAF) concerning whether a series of statements by SNC-Lavalin Group Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Canada based SNC-Lavalin Group Inc. provides consulting, design, engineering, construction, and operation and maintenance services worldwide. SNC-Lavalin Group Inc. reported that its annual Total Revenue rose from over $8.47 billion in 2016 to over $9.33 billion in 2017 and that its Net Income increased from $255.53 million in 2016 to $382.03 million in 2017.

On January 28, 2019, SNC-Lavalin announced that its earnings before interest and taxes in its Mining & Metallurgy Segment would be lower in 2018 than expected due to the underperformance of a project. The project involved a contract that was awarded in 2016. Shares of SNC-Lavalin Group Inc. (OTC: SNCAF) declined from $47.19 per share in June 2018 to as low as $25.12 per share on February 14, 2019.