SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Advanced Drainage Systems, Inc. – WMS

NEW YORK, NY / ACCESSWIRE / July 31, 2015 / Pomerantz LLP is investigating claims on behalf of investors of Advanced Drainage Systems, Inc. (“Advanced Drainage” or the “Company”) (NYSE: WMS). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.

The investigation concerns whether Advanced Drainage and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. 

On June 30, 2015, the Company filed a Form 12b-25 with the Securities and Exchange Commission extending its time to file its Annual Report on Form 10-K for the fiscal year ended March 31, 2015 (the “2015 10-K”) due to the additional time required for the Company to complete its inventory costing analysis and the Audit Committee of the Company’s Board of Directors to review the Company’s journal entry control processes. On July 15, 2015, the Company issued a press release announcing the delay in the filing of the 2015 10-K beyond the July 14, 2015 deadline and the need to adjust its previously issued earnings release for the fourth quarter and full fiscal year 2015. 

On this news, shares of Advanced Drainage fell $0.56 per share to close at $28.69 per share on July 15, 2015.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

SOURCE: Pomerantz LLP

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