IMPORTANT ANNOUNCEMENT: Wolf Haldenstein Adler Freeman & Herz LLP Reminds Investors That a Federal Securities Class Action Ha...
23 May 2015 - 09:00AM
Wolf Haldenstein Adler Freeman & Herz LLP announces that
a class action lawsuit has been filed in the United States District
Court for the Southern District of New York against CHC Group Ltd.
(NYSE:HELI) (“CHC”), certain of its officers, and the underwriting
banks in CHC’s January 16, 2014 Initial Public Offering (“IPO”),
alleging multiple violations of the 1933 Securities Act in
connection CHC’s IPO. The case is brought on behalf of a class
consisting of all investors who acquired CHC common stock pursuant
and/or traceable to the IPO between January 16, 2014 and July 10,
2014, inclusive (the “Class Period”).
The case alleges that CHC, a provider of commercial
helicopter services to the offshore oil and gas industry worldwide,
failed to disclose in connection with its IPO that one of its
largest clients, Petroleo Brasileiro S.A., had stopped making
payments on its contracts with CHC since April 2013. It was not
until a July 10, 2014 earnings call that CHC disclosed the truth,
stating that the company did not expect to recover revenues
relating to the contract, that guidance for future quarters would
not reflect any recovery, and that CHC’s revenues for fiscal 2014
would come in at the bottom of the company’s guidance ranges. On
July 10, 2014, CHC Group Ltd.’s shares declined nearly 12% below
their July 9, 2014 closing price, and more than 23% below the IPO
price.
Wolf Haldenstein encourages all
shareholders who suffered losses on securities purchased within the
class period to contact us immediately at (800) 575-0735 or
email classmember@whafh.com prior as the
lead plaintiff deadline is July 17, 2015.
Wolf Haldenstein has extensive experience in the
prosecution of securities class actions and derivative litigation
in state and federal trial and appellate courts across the
country. The firm has attorneys in various practice areas;
and offices in New York, Chicago and San Diego. The
reputation and expertise of this firm in shareholder and other
class litigation has been repeatedly recognized by the courts,
which have appointed it to major positions in complex securities
multi-district and consolidated litigation.
If you wish to discuss this action or have any
questions regarding your rights and interests in this case, please
immediately contact Wolf Haldenstein Adler Freeman & Herz LLP
by telephone at (800) 575-0735, via e-mail at
classmember@whafh.com, or visit our website at www.whafh.com.
All e-mail correspondence should make reference to the “CHC
investigation.”
Attorney Advertising. Prior results do not
guarantee or predict a similar outcome.
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, Donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774