Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Everus Construction Group, Inc. (ECG)

NEW YORK, April 08, 2025 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Everus Construction Group, Inc. (“Everus Construction” or the “Company”) (NYSE: ECG) securities between October 31, 2024 and February 11, 2025, both dates inclusive (the “Class Period”), including investors who held MDU Resources Group, Inc. (“MDU Resources”) common stock as of October 21, 2024 and acquired Everus Construction common stock issued in connection with the spinoff of Everus Construction on or about October 31, 2024 (the “Spinoff”).

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) Everus Construction’s backlog conversion cycle had become elongated due to larger, more complex projects; (ii) as a result, Everus Construction’s revenue recognition would be delayed; and (iii) as a result of the foregoing, defendants’ positive statements about Everus Construction’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares of Everus Construction should contact the Firm prior to the June 3, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

Please visit our website at http://www.gme-law.com for more information about the firm.

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