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BOSTON, Feb. 01, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, is investigating whether Astec Industries Inc. (“Astec Industries” or the “Company”) (NASDAQ: ASTE) and certain of its officers and directors violated federal securities laws.
On April 24, 2018, during an earnings call with investors, Astec Industries’ then-CEO and Board member Benjamin Brock discussed the Company's pellet plant issues and related 2017 charges and stated in part "the charge we took last year is adequate[.]"
Then on July 24, 2018, following significant insider trading transactions, the Company announced unresolved issues with its wood pellet plant customer in Arkansas.
This news drove the price of Astec Industries shares down $12.59, or about 20%, to close at $48.21 on July 24, 2018. If you have purchased or otherwise acquired Astec Industries securities and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact attorney Dan DeMaria at (888) 868-2385, by email at firstname.lastname@example.org, or by visiting http://shareholder.law/cases/?case=astec.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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