LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Petrofac Ltd. (“Petrofac” or the “Company”) (OTC: POFCY) investors concerning the Company and its officers’ possible violations of federal securities laws. To obtain information or aid in the investigation, please visit the Petrofac investigation page on our website at www.glancylaw.com/case/petrofac-ltd.
On May 25, 2017, Petrofac suspended its chief operating officer Marwan Chedid after a U.K. prosecutor said the Company hasn’t cooperated with a bribery probe. The Company has also brought on a “senior external specialist” and set up a new committee to oversee the response to the bribery investigation. Petrofac CEO Ayman Asfari and COO Marwan Chedid were arrested, questioned and released without being charged in connection with alleged bribes paid to secure lucrative contracts.
On this news, shares of Petrofac fell sharply, over 30%, during intraday trading on May 25, 2017.
If you purchased Petrofac securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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