Le Lézard
Classified in: Business
Subject: ATY

Bernstein Liebhard LLP Announces That A Class Action Has Been Filed Against CHC Group Ltd. And Advises Investors To Contact Bernstein Liebhard LLP Prior To The Lead Plaintiff Deadline



NEW YORK, July 2, 2015 /PRNewswire/ -- Bernstein Liebhard LLP today announces that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers (the "Class") of CHC Group Ltd. ("CHC" or the "Company") (NYSE: HELI) common stock during the period of January 17, 2014 to July 10, 2014, inclusive (the "Class Period"), including those traceable to CHC's initial public offering ("IPO") on January 16, 2014. The deadline to file a motion for lead plaintiff in a securities class action against CHC expires on July 17, 2015.

Bernstein Liebhard LLP.

The complaint charges CHC, certain of its officers and directors, and each of the underwriters for the IPO, with violations of the Securities Act of 1933. The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and omissions in its public statements and filings, including the Registration Statement issued in connection with the IPO.  Specifically, CHC failed to disclose that one of CHC's two largest customers, Petroleo Brasileiro S.A. ("Petrobras"), had stopped making payments on its contracts with the Company. As a result of CHC's false and misleading statements and omissions, the Company's stock traded at artificially inflated prices during the Class Period.

On July 10, 2014, CHC's Chief Financial Officer, Joan S. Hooper, disclosed that Petrobras had not made payments on contracts to CHC since April 2013, nearly ten months before CHC's IPO.  Additionally, Hooper revealed that CHC 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 and EBITDAR for fiscal year 2014 would come in at the bottom of the Company's guidance ranges due to Petrobras' suspension of contract payments.

On this news, shares in CHC plummeted nearly 12% below its July 9, 2014 closing price, and more than 23% below the IPO price, to close at $7.63 per share on July 10, 2014, on high trading volume.

Plaintiffs seek to recover damages on behalf of all Class members who purchased shares of CHC common stock during the Class Period. If you purchased CHC securities as described above, and either lost money on the transaction or still hold the security, you may wish to join in this action to serve as lead plaintiff. In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than July 17, 2015.

A "lead plaintiff" is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiff. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Bernstein Liebhard LLP, or other counsel of your choice, to serve as your counsel in this action.

If you are interested in discussing your rights as a CHC shareholder and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or seidman@bernlieb.com.

Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs' firms in the country.

You can obtain a copy of the complaint from the clerk of the court for the United States District Court for the Southern District of New York.

Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com

ATTORNEY ADVERTISING. © 2015 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
seidman@bernlieb.com

Logo - http://photos.prnewswire.com/prnh/20120202/MM47134LOGO

 

SOURCE Bernstein Liebhard LLP


These press releases may also interest you

at 02:00
With the recent acquisition of clients in previously untapped countries, Azeus Convene has succeeded in expanding its footprint to more than 40 countries worldwide as of November, 2017. From building a strong foundation in the United Kingdom, Azeus...

at 02:00
Landore Resources Limited (AIM:LND) ("Landore Resources" or "the Company") is pleased to announce  the Updated Mineral Resource estimate for the BAM East Gold Deposit on its Junior Lake Property, Ontario, Canada ("BAM East Gold Deposit")....

at 01:54
2018 is all set to start with an event which promises to be the biggest fintech happening in Dubai to date. The Dubai International Blockchain Summit 2018 (DIBS) will feature technology leaders and concept advocates within the blockchain industry....

at 01:45
Eastern Platinum Limited ("Eastplats" or the "Company") announces that it has granted 575,000 stock options to officers and management of the Company that vest in 90 days. The options were granted for a term of five years, and expire on December 7,...

at 01:38
Crédit Agricole Payment Services and Wirecard enter into exclusive negotiations to conclude a partnership to offer innovative and high-performance electronic payment services to merchant clients of Crédit Agricole Group banks, in France and Europe. ...

at 01:00
Masaref will provide local support for both implementation and alliance  Swiss Fintech leader NetGuardians has joined forces with Masaref Business & Systems Consulting, who will provide on-the-ground support for business development in the Middle...




News published on 2 july 2015 at 14:53 and distributed by: