[ad_1]
BENSALEM, Pa .– (BUSINESS WIRE) – Law Offices of Howard G. Smith announces that a clbad action has been filed.
been filed on behalf of the investors who purchased Bristow Group Inc. (NYSE:
BRS)
("Bristow" or the "Company") securities between February 8, 2018 and
February 12, 2019, included (the "clbad period"). Bristow investors
to have up to April 15, 2019 file a request from the principal applicant.
On February 11, 2019, the Company disclosed that she "had not had
Adequate control processes in place related to non-financial activities
under certain of its secured financing and leasing agreements. "
On the same day, the company announced that it had terminated his contract
to buy Columbia Helicopters, Inc. On this news, the share of the company
The price dropped from $ 1.22 per share, or close to 40%, to close at $ 1.84 per share.
on February 12, 2019, on an unusually high volume of transactions.
Then, on February 12, 2019, the Company filed with the SEC a Form 8-K in order to
announces: (i) that it had terminated its contract to purchase Columbia
Helicopters, Inc .; and (ii) Jonathan E. Baliff would retire
Chief Executive Officer and resign from the Board,
effective February 28, 2019. As a result of this news, the Company's share price has increased.
fell by $ 0.64, or nearly 35%, to close at $ 1.20 per share on February 13th.
2019, thus hurting investors.
The complaint filed in this clbad action alleges that throughout the
Period of the course, the accused are materially false and / or misleading
statements, as well as failed to disclose material adverse facts about
the activities, activities and prospects of the company. More precisely,
The defendants have not disclosed to investors: (1) that the company did not have
adequate monitoring processes related to non-financial commitments within
its secured financing and leasing agreements; (2) that, therefore, the
Company could not reasonably ensure compliance with certain
non-financial commitments; (3) As a result, the company has been
reasonably likely to violate certain agreements; (4) that, therefore,
the company had underestimated its short-term debt; (5) the necessary
the corrections would have a material impact on the financial statements; (6) that there
a significant weakness in the company's internal controls over
financial report; and (7) because of the foregoing,
Positive statements of the defendants on the affairs of the company,
operations, and the outlook was materially misleading and / or lacking in
reasonable basis.
If you bought Bristow shares, if you have information or wish
find out more about these claims, or have questions about it
announcement or your rights or interests with respect to these matters,
please contact Howard G. Smith, Esquire, Howard G. Law Firms
Smith, 3070 Bristol Pike, Suite 112, Bensalem, PA, 19020 through
Call (215) 638-4847 toll-free at (888) 638-4847 or by email at [email protected].
or visit our website at www.howardsmithlaw.com.
This press release may be considered as a lawyer's advertisement in certain
jurisdictions under applicable law and ethical rules.
Source link
