NEW YORK, Nov. 16, 2009 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC is investigating reports of possible securities laws violations by Northwest Pipe Company ("NWPX"), a manufacturer and marketer of large-diameter, high-pressure steel pipeline systems. On November 12, 2009, Northwest Pipe Company (NWPX) fell 14% or $4.49 and closed at $26.74 after the maker of welded steel pipes said it has delayed the release of its third-quarter financial results. The company said the financial report for the three months ended Sept. 30 has been delayed "pending the conclusion of an ongoing internal investigation of certain accounting matters, including certain revenue recognition practices." The investigation is being conducted by the board of directors' audit committee and independent professionals, the company said. Northwest Pipe said it plans to publish the results "as soon as practicable" after the investigation and any further accounting work that may be needed.
If you are aware of any facts relating to this investigation, or purchased shares of NWPX since January 2006, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate work, private securities offerings, and securities arbitration.
CONTACT: Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein
Eitan Kimelman
eitan@bgandg.com
212-697-6484
