Date: July 29, 2004
Source: News Room
Bennett Environmental of Ontario is facing a class-action lawsuit over its disclosure of a revised contract that met with an unfavorable reception from shareholders. The company, which treats contaminated soil, said in a release that the lawsuit alleges it made "material misrepresentations and omissions of material facts" regarding the contract. The company said last week that it had been forced to enter into a revised contract for a cleanup site in New Jersey, and that the revised contract would cut soil shipments and reduce its contract backlog. The company's shares lost 45 percent since the announcement.
More information: www.bennettenv.com.
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