Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, May 19, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Everus Construction Group, Inc. ("Everus" or the "Company") (NYSE: ECG) investors of a class action representing investors that bought securities between October 31, 2024 and February 11, 2025, inclusive (the "Class Period"). Everus investors have until June 3, 2025 to file a lead plaintiff motion.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

Everus Construction (formerly MDU Construction Services Group, Inc.) historically operated as a wholly owned subsidiary of CEHI, LLC, itself a wholly owned subsidiary of MDU Resources Group, Inc. According to the complaint, on November 2, 2023, MDU Resources announced its intent to pursue a tax-free spinoff of Everus Construction. Subsequently, on October 31, 2024, Everus Construction shares began trading on the New York Stock Exchange.

The class action lawsuit against Everus Construction alleges that, throughout the Class Period, the defendants made materially false and/or misleading statements or failed to disclose material facts, including: (i) that Everus Construction’s backlog conversion cycle had lengthened due to a shift toward larger, more complex projects; and (ii) that this shift would result in delays in revenue recognition.

According to the complaint, on February 11, 2025, Everus Construction reported its fourth quarter and full-year 2024 financial results, disclosing a backlog of $2.8 billion and stating that, “heading into 2025,” the company expects revenue between $3.0 billion and $3.1 billion and EBITDA between $210 million and $225 million for the year. Following this announcement, Everus Construction’s stock price declined nearly 28% over the next two trading sessions.

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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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