AZZ Inc.
| Company Name | AZZ Inc. |
| Stock Symbol | AZZ |
| Class Period | July 03, 2018 to October 08, 2019 |
| Lead Plaintiff Motion Deadline | January 03, 2020 |
On May 17, 2019, after the market closed, AZZ disclosed a material weakness in its internal control over financial reporting related to preparation and review of revenue reconciliations after adopting a new revenue recognition standard.
On May 20, 2019, before the market opened, AZZ announced that it had replaced its independent auditor, BDO US, LLP, with Grant Thornton LLP.
On this news, the Company’s stock price fell $1.21, nearly 3%, to close at $43.35 per share on May 20, 2019, thereby injuring investors.
On October 8, 2019, AZZ delayed its second quarter 2020 financial results “to allow the Company additional time to complete the review of the Form 10-Q for its fiscal year 2020 second quarter ended August 31, 2019.”
On this news, the Company’s stock price fell $5.89, nearly 14%, to close at $37.12 per share on October 8, 2019, thereby injuring investors further.
On October 25, 2019, AZZ announced that its Chief Accounting Officer “will leave the Company effective October 31, 2019.”
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