NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, P.A., a global investor rights firm, announces that a class action lawsuit has been filed on behalf of all purchasers of CHC Group Ltd. common stock (NYSE:HELI) during the period from the date of the initial public offering on January 16, 2014 through July 14, 2014. The lawsuit seeks to recover investors’ losses under the federal securities laws.
To join the CHC class action, visit the firm’s website at http://www.rosenlegal.com/cases-622.html, or contact Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The complaint alleges that CHC failed to disclose in its registration statement issued in connection with its initial public offering that one of its two largest customers, Petroleo Brasileiro S.A. (“Petrobas”) had ceased all payments on its contracts to CHC since at least April 2013 – more than 9 months before the initial public offering. On July 10, 2014, CHC finally disclosed that would not receive revenues related to its Petrobras contacts and that its future revenues would also be negatively impacted as a result. This adverse news caused CHC’s share price to drop markedly, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than July 17, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation go to the firm’s website at http://www.rosenlegal.com/cases-622.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll-free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
