Dycom Says Investors' Suit Is Based On A 'Thin Reed'

Law360 (January 23, 2020, 3:15 PM EST) -- Telecommunications infrastructure company Dycom Industries Inc. on Wednesday sought to end a shareholder's proposed class action against it, telling a Florida federal judge that its investors had gone out on a limb with their allegations.

Dycom, along with its President and CEO Steven E. Nielsen and its Senior Vice President and Chief Financial Officer Andrew DeFerrari, submitted a motion to dismiss the suit with prejudice to U.S. District Judge Raag Singhal on Jan. 22.

In the motion, the company said the investors had based their suit, which has been amended twice, on a "thin reed and nothing else" by alleging that...

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