NEW YORK, Aug. 22, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of investors who purchased Key Energy Services Inc. ("Key Energy" or the "Company") (NYSE: KEG ) securities between July 25, 2013 and July 17, 2014.
For more information, click here: http://zlk.9nl.com/key-energy-keg .
The complaint alleges that Key Energy violated the Securities Exchange Act of 1934 for failing to disclose, during the Class Period, that production for Petroleos Mexicanos, one of the Company's largest customers, was in decline. The complaint further alleges that Key Energy's business in Russia violated the Foreign Corrupt Practices Act. On July 17, 2014, the Company announced a $30-$35 million pre-tax charge for goodwill and other asset impairments related to its operations in Russia. As a result, Key Energy shares declined significantly.
If you suffered a loss in Key Energy you have until October 14, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/key-energy-keg .
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.com
