Investors Alert: Legal Action Against Everus Construction Group Following Recent Financial Results

Investor Alert: Class Action Lawsuit Against Everus Construction Group, Inc.

Pomerantz LLP, a prominent law firm specializing in corporate class actions, has recently initiated a class action lawsuit against Everus Construction Group, Inc. Following Everus's recent financial disclosures, investors who have sustained losses are given a critical update on their rights and potential reclaim options through this lawsuit.

Background on the Lawsuit

The lawsuit stems from allegations that Everus, along with certain officers and directors, may have engaged in practices constituting securities fraud. This follows significant revelations from the company relating to its financial outlook, particularly concerning its order backlog and project complexity. Everus disclosed that its backlog conversion period is expected to extend when compared to historical patterns, which raised concerns among investors about the future profitability of the Company.

On February 11, 2025, Everus reported its financial results for Q4 and the entire year of 2024. The firm projected revenues between $3.0 billion to $3.1 billion for 2025, alongside an expected EBITDA of $210 million to $225 million. However, the company admitted that the larger, more intricate nature of current projects would likely lead to a prolonged backlog conversion phase.

These alarming revelations resulted in a substantial stock price drop for Everus, which fell by approximately $18.88 (27.6%) over just two trading days, closing at $49.54 per share on February 13, 2025. This drastic decline triggered worries among investors regarding the stability and governance of the company, prompting the legal action.

Important Deadlines and Actions for Investors

Investors who purchased or acquired Everus securities during the specified Class Period are encouraged to take prompt action. The court deadline to seek appointment as Lead Plaintiff is June 4, 2025. Those interested in becoming part of this class action are advised to reach out to Danielle Peyton at Pomerantz LLP for assistance and to express their intent. Potential plaintiffs should prepare to provide their contact details and share information about the shares they acquired.

A copy of the formal complaint can be accessed through Pomerantz's website, where additional information about the class action can also be found.

About Pomerantz LLP

Pomerantz LLP has built a strong reputation and is recognized as one of the leading firms in the field of corporate and securities class litigation. Established more than 85 years ago by the late Abraham L. Pomerantz, the firm has been at the forefront of protecting investors' rights against corporate malfeasance. With offices across essential hubs like New York, Chicago, Los Angeles, London, and Tel Aviv, Pomerantz has secured billions of dollars in settlements for class members. Today's action against Everus highlights the firm's commitment to holding companies accountable for their actions, ensuring that investors have recourse in the face of potential fraud or misconduct.

Conclusion

The unfolding situation with Everus Construction Group serves as a critical reminder for investors to stay vigilant regarding their investments, particularly in light of significant corporate announcements that could impact stock performance. Investors are advised to monitor their investments closely and seek legal protection if necessary. Further developments regarding this lawsuit will likely emerge as the court date nears, making it imperative for affected individuals to follow up with legal counsel promptly.

Investors can retrieve the latest updates and gather necessary details to protect their rights throughout this legal process. For more information, reach out to Pomerantz LLP directly via their official communication channels.