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The filed complaint alleges that Matrix Service Company made materially false and/or misleading statements and/or failed to disclose that: Matrix issued a press release on September 9, 2025, announcing its fiscal year 2025 fourth quarter and full-year results. For the quarter, Matrix reported non-GAAP earnings per share of -$0.28, missing consensus estimates by $0.29, and revenue of $216.4 million, missing consensus estimates by $15.85 million. Matrix stated that "[o]ur fourth quarter net income reflects a $14.9 million impact associated with four issues: a charge related to labor cost overruns on a crude oil terminal project, which is now complete; an updated reserve to a contract dispute on a project dating back to the pandemic, currently in arbitration; a charge for an unfavorable court decision related to a subcontractor's failure to pay lower tier contractors for another pandemic era project; and restructuring costs related to our organizational realignment." Following this news, Matrix's stock price fell over 13% on September 10, 2025.
In order to be eligible to join the MTRX class action lawsuit, you must have incurred a loss on shares of Matrix Service Company purchased during the class period listed above.
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