An investigation for investors in Installed Building Products Inc (NYSE:IBP) shares over potential securities laws violations by Installed Building Products was announced and NYSE:IBP stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/04/2015 -- An investigation on behalf of investors of Installed Building Products Inc (NYSE:IBP) shares over potential securities laws violations by Installed Building Products and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of Installed Building Products Inc (NYSE:IBP) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Installed Building Products Inc (NYSE:IBP) concerning whether a series of statements by Installed Building Products regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Installed Building Products Inc (NYSE:IBP) went public in February 2014. Shares of Installed Building Products Inc (NYSE:IBP) grew from $11.10 per share in August 2014 to as high as $23.71 per share on April 17, 2015, respectively April 28, 2015.
Then on April 29, 2015, an article was published which alleged that numerous red flags exist at Installed Building Products Inc, including: "misrepresented financials, subtle alterations of earnings definitions, overstated cash flow, related party conflicts of interest, margin goals that appear disconnected from the company's economic model, heretofore poorly disclosed litigation accusing the company of systematically under-reporting hours worked and violating Fair Labor Standards Acts, and earnings estimates that have consistently been revised lower." Shares of Installed Building Products Inc (NYSE:IBP) declined to as low as $20.72 per share on April 29, 2015.
On April 30, 2015, NYSE:IBP shares closed at $20.81 per share.
Those who purchased shares of Installed Building Products Inc (NYSE:IBP) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com