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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Deadline Reminder: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Bristow Group Inc. (BRS)

February 19, 2019

BENSALEM, Pa.--(BUSINESS WIRE)--Feb 19, 2019--Law Offices of Howard G. Smith reminds investors of the April 15, 2019 deadline to file a lead plaintiff motion in the class action filed 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”). Bristow investors have until  April 15, 2019 to file a lead plaintiff motion.

Investors suffering losses on their Bristow investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

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.

Then on February 12, 2019, the Company filed a Form 8-K with the SEC to announce: (i) that it had terminated its agreement to purchase Columbia Helicopters, Inc.; and (ii) that Jonathan E. Baliff would retire as Chief Executive Officer and would resign from the Board of Directors, effective February 28, 2019. On this news, the Company’s share price fell $0.64, or nearly 35%, to close at $1.20 per share on February 13, 2019, thereby injuring investors.

The complaint filed in this class action 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. Specifically, Defendants failed to disclose to investors: (1) that the Company lacked adequate monitoring processes related to non-financial covenants within its secured financing and lease agreements; (2) that, as a result, the Company could not reasonably assure compliance with certain non-financial covenants; (3) that, as a result, the Company was reasonably likely to breach certain agreements; (4) that, as a result, the Company had understated its short-term debt; (5) the required corrections would materially impact financial statements; (6) that there was a material weakness in the Company’s internal controls over financial reporting; and (7) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you purchased shares of Bristow during the Class Period you may move the Court no later than  April 15, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to  howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190219006061/en/

CONTACT: Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Law Offices of Howard G. Smith

Copyright Business Wire 2019.

PUB: 02/19/2019 05:35 PM/DISC: 02/19/2019 05:35 PM

http://www.businesswire.com/news/home/20190219006061/en