A class action has been commenced in the Central District of California on behalf of purchasers of AECOM (NYSE: ACM) common stock during the period between February 11, 2015 and August 15, 2016 (the “Class Period”).

The complaint charges AECOM and certain of its officers with violations of the Securities Exchange Act of 1934. The Company was formerly known as AECOM Technology Corporation, but changed its name to AECOM in January 2015. AECOM, together with its subsidiaries, engages in designing, building, financing and operating infrastructure assets worldwide. On October 17, 2014, AECOM announced that it had finalized its acquisition of URS Corp. (the “URS Acquisition”).

The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements and/or failed to disclose adverse information regarding the Company’s business and operations. Specifically, defendants failed to disclose that: (i) AECOM had engaged in fraudulent and deceptive business practices; (ii) AECOM lacked effective internal controls over financial reporting; and (iii) AECOM had overstated the benefits of the URS Acquisition and the Company’s free cash flow per share. As a result of these false statements and/or omissions, AECOM stock traded at artificially inflated prices during the Class Period, reaching a high of more than $36 per share.

On August 10, 2016, AECOM disclosed that it had “discovered deficiencies associated with the acquisition of URS . . . related to (a) the alignment of accounting policies specific to forward loss reserves and (b) income tax accounts,” which “deficiencies within the accounting process . . . rose to a level of material weakness in [its] internal control over financial reporting.”

Then on August 16, 2016, Spruce Point Capital Management published a report on AECOM stating that after a forensic financial and accounting analysis of AECOM’s recent financial results and condition, Spruce Point believed that AECOM’s stock was worth approximately “33% - 45%” less than its current price. Among other concerns, the Spruce Point report asserted that “free cash flow [was] overstated by approximately 90% in the LTM ending June 30th,” and that the Company had misrepresented the costs and benefits of the URS Acquisition. On this news, AECOM stock fell $1.65 per share, or nearly 5%, to close at $33.44 per share August 16, 2016.

If you are a current shareholder and/or purchased stock between February 11, 2015 and August 15, 2016, and would like to discuss your options of exercising your rights as a shareholder, please contact us.

Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.

Personal Information
Phone #:
E-mail Address:
Stock Information
Do you currently own the stock? Yes   No
Purchase Date:
Quantity Purchased:
Purchase Price Per Share:

Please Note: Neither the submission to nor the receipt of information by The Law Offices of Marc S. Henzel or one of its attorneys through this website constitutes an agreement by the firm to represent the individual and does not create an attorney-client relationship.