NEW YORK, NY / ACCESSWIRE / May 26, 2017 / Pomerantz LLP announces that a class action lawsuit has been filed against KBR, Inc. (“KBR” or the “Company”) (NYSE: KBR) and certain of its officers. The class action, filed in United States District Court, Southern District of Texas, Houston Division, and docketed under 17-cv-01375, is on behalf of a class consisting of investors who purchased or otherwise acquired KBR securities, seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.
If you are a shareholder who purchased KBR securities between February 26, 2016 and April 27, 2017, both dates inclusive, you have until July 3, 2017 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
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KBR provides professional services and technologies across the asset and program life-cycle within the government services and hydrocarbons industries worldwide. The company operates through three segments: Government Services, Technology & Consulting, and Engineering & Construction.
Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s United Kingdom (“UK”) subsidiaries had violated applicable bribery and corruption laws; and (ii) as a result of the foregoing, KBR’s public statements were materially false and misleading at all relevant times.
On April 28, 2017, the United Kingdom’s Serious Fraud Office confirmed that it had opened an investigation into “the activities of KBR’s UK subsidiaries, their officers, employees and agents for suspected offences of bribery and corruption.”
On this news, KBR’s share price fell $1.43, or 9.24%, to close at $14.05 on April 28, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
SOURCE: Pomerantz LLP