Robbins LLP is Investigating Allegations Everus Construction Group, Inc. (ECG) Misled Investors Regarding its Backlog Conversion Cycle

Robbins LLP informs stockholders that a class action was filed on behalf of persons and entities that purchased or otherwise acquired Everus Construction Group, Inc. ("Everus") (NYSE: ECG) common stock between October 31, 2024 and February 11, 2025, including investors who held MDU Resources Group, Inc. (“MDU Resources”) common stock as of October 21, 2024 and acquired Everus common stock issued in connection with the spinoff of Everus Construction on or about October 31, 2024. Everus is the parent company of Everus Construction, Inc., which provides utility construction services.

The Allegations

Plaintiff alleges that defendants failed to disclose to investors that the Company’s backlog conversion cycle had become elongated due to larger, more complex projects and as a result, the Company’s revenue recognition would be delayed.  The truth was revealed on February 11, 2025, when Everus released its fourth quarter and full year 2024 financial results. On this news, the Company's stock price fell $18.88, or 27.6%, over two consecutive trading days to close at $49.54 per share on February 13, 2025.  

What Now: You may be eligible to participate in the class action against Everus Construction Group, Inc. Shareholders who want to serve as lead plaintiff for the class should contact Robbins LLP. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.  You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.