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Construction Co. Investors Win Class Cert. In Accounting Row
Law360 (January 22, 2021, 4:03 PM EST) A California federal judge on Thursday granted class certification to investors of contractor Granite Construction Inc. who allege the company used fraudulent accounting techniques to hide $338 million in cost overruns from four construction projects.
U.S. District Judge William Alsup also named the Police Retirement System of St. Louis class representative and Bleichmar Fonti & Auld LLP lead counsel in the case stemming from four infrastructure contracts Granite Construction won between 2012 and 2014.
California-based Granite Construction bids on and completes large infrastructure projects for public and private clients, including the four at issue in this case, in which the company is.