Block & Leviton LLP Investigates MasTec, Inc. for Possible Violations of the Federal Securities Laws

BOSTON, March 18, 2015 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, is investigating possible securities law violations by MasTec Inc. ("MasTec" or the "Company") MTZ following the Company's announcement that it has further postponed the distribution of its Annual Report on Form 10-K for the fiscal year ended December 31, 2014.  The 10-K had been expected to be filed by March 17, 2015, in accordance with a previously extended deadline for filing pursuant to United States Securities and Exchange Commission ("SEC") rules.

On February 26, 2015, MasTec issued a press release wherein it stated its 2014 fourth quarter and annual financial results, and also announced that it that it would delay filing its Form 10-K with the SEC until March 17, 2015.  The reason for the delayed Form 10-K was stated as an ongoing investigation by the Audit Committee of the MasTec board of directors, with the assistance of independent counsel, into certain cost to complete estimates.  After the close of business on March 17, 2015, the Company announced that it needed to further delay the filing of the Form 10-K because its Audit Committee had yet to reach conclusions regarding the cost to complete issue and would be undertaking additional review of accounting estimates.  MasTec further stated that "[t]he Company cannot predict the outcome of the Audit Committee's investigation, its ultimate scope or when it will be completed."

In reaction to this news MasTec's stock price dropped by as much as 19% on March 18, 2015, compared to its closing price prior to announcing the news of the postponed earnings release, reaching a new 52 week low.

Block & Leviton's investigation seeks to determine, among other things, whether MasTec or its officers and directors violated the federal securities laws through the Company's actions which led to the postponing of its 10-K.  If you purchased MasTec securities prior to March 17, 2015, and have questions about your legal rights or possess information relevant to this investigation, please contact attorney Steven P. Harte of Block & Leviton LLP at (617) 398-5600 or email him at Steven@blockesq.com.  Confidentiality to whistleblowers or others with information relevant to the lawsuit is assured.

This notice may constitute attorney advertising.

Contact: BLOCK & LEVITON LLP
Steven P. Harte, Esq.
(617) 398-5600
Steven@blockesq.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/block--leviton-llp-investigates-mastec-inc-for-possible-violations-of-the-federal-securities-laws-300052746.html

SOURCE Block & Leviton LLP