BRISTOW GROUP, INC. INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of Texas District against Bristow Group, Inc.
NEW YORK, March 05, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal class action lawsuit has been filed in United States District Court for the Southern District of Texas District on behalf of investors that purchased Bristow Group, Inc. (“Bristow” or the “Company”) (NYSE: BRS) securities between February 8, 2018 and February 12, 2019, inclusive (the “Class Period”).
Investors who purchased shares of Bristow Group, Inc. are urged to contact the firm immediately at email@example.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website , www.whafh.com.
If you have incurred losses in the shares of Bristow Group, Inc., you may, no later than April 15, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Bristow Group, Inc.
The filed complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.
Defendants failed to disclose to investors:
-- that the Company lacked adequate monitoring processes related to non-financial covenants within its secured financing and lease agreements; -- that, as a result, the Company could not reasonably assure compliance with certain non-financial covenants; -- that, as a result, the Company was reasonably likely to breach certain agreements; -- that, as a result, the Company had understated its short-term debt; and -- that there was a material weakness in the Company’s internal controls over financial reporting.
On February 11, 2019, the Company disclosed that it “did not have adequate monitoring control processes in place related to non-financial covenants within certain of its secured financing and lease agreements.” The same day, the Company announced that it had terminated its agreement to purchase Columbia Helicopters, Inc.
On this news, the Company’s share price fell $1.22 per share, or nearly 40%, to close at $1.84 per share on February 12, 2019, on unusually heavy trading volume.
Subsequently, on February 12, 2019, the Company filed a Form 8-K with the United States Securities and Exchange Commission (“SEC”) to announce that it had terminated its agreement to purchase Columbia Helicopters, Inc., and that Jonathan E. Baliff would retire as Chief Executive Officer and step down from the Board of Directors, effective February 28, 2019.
On this news, the Company’s share price fell an additional $0.64, or nearly 35%, to close at $1.20 per share on February 13, 2019.
Wolf Haldenstein Adler Freeman & Herz LLP 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 by telephone at (800) 575-0735, via e-mail at firstname.lastname@example.org, or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq.Gregory Stone, Director of Case and Financial AnalysisEmail: email@example.com, firstname.lastname@example.org or email@example.com Tel: (800) 575-0735 or (212) 545-4774
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