NEW ORLEANS, June 12, 2015 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 17, 2015 to file lead plaintiff applications in a securities class action lawsuit against CHC Group Ltd. (NYSE: HELI ) if they purchased the Company’s securities pursuant and/or traceable to the Company’s initial public offering (“IPO”) between January 16, 2014 and July 10, 2014, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of CHC and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ( lewis.kahn@ksfcounsel.com ). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 17, 2015 .
About the Lawsuit
CHC and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The case alleges that CHC 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.
During a July 10, 2014 earnings call, CHC stated that it did not expect to recover revenues relating to the Petroleo Brasileiro S.A. 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 this news, the price of CHC’s shares plummeted.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com .
Contact: Kahn Swick & Foti, LLC Lewis Kahn, Managing Partner lewis.kahn@ksfcounsel.com 1-877-515-1850 206 Covington St. Madisonville, LA 70447
