LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces that it is investigating claims against Petrofac Limited (“Petrofac” or the “Company”) (Other OTC: POFCY; POFCF) concerning possible violations of federal securities laws.
To get more information about this investigation, please contact Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or by email at email@example.com.
On May 12, 2017, the United Kingdom’s Serious Fraud Office (“SFO”) revealed that it was launching an investigation into Petrofac for alleged “bribery, corruption and money laundering.” On May 25, 2017, the Company’s Chief Executive Officer Ayman Asfari, and Chief Operating Officer Marwan Chedid, were arrested and questioned in connection with alleged bribes paid to secure lucrative contracts. Both were released without charge. Petrofac suspended Mr. Chedid and set up a new committee to oversee the response to the bribery investigation, precluding Mr. Asfari from involvement.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.