The Police Retirement System of St. Louis v. Granite Construction Incorporated

INTRODUCTION

18 Pursuant to the Private Securities Litigation Reform Act, this order appoints The Police 19 20 Retirement System of St. Louis as lead plaintiff. This order accordingly DENIES the motions of other parties for appointment as lead plaintiff. 21

STATEMENT

22 In August 13, 2019, individual investor Douglass Greene filed this putative securities 23 class action against defendant Granite Construction Incorporation and individual defendants 24 James H. Roberts, the CEO of Granite, and Jigisha Desia, the CFO of Granite, alleging false 25 and misleading statements in violation of federal securities laws. That same day, Greene’s 26 counsel published a notice on Business Wire informing investors that a class action lawsuit had 27 been filed against Granite and that investors had 60 days from the publication of the notice to 28 1 Plaintiff alleges that Granite misrepresented and concealed information regarding certain 2 risks and additional costs related to its joint venture construction projects. Plaintiff further 3 alleges that Granite made positive statements about these projects. However, in July 2019, 4 Granite disclosed that its financial results for the…