BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming lead plaintiff deadline in the class action lawsuit filed on behalf of a class comprising purchasers of the securities of CHC Group Ltd. (HELI) (“CHC” or the “Company”), who purchased securities offered pursuant to the Company’s January 16, 2014 Initial Public Offering (“IPO”) and/or in the public market between January 16, 2014 and July 10, 2014, inclusive (the “Class Period”). If you purchased shares of CHC during the Class Period you are encouraged to contact Howard G. Smith, Esq. to discuss your legal rights in connection with this pending class action. Note that CHC investors have until July 14, 2015 to seek appointment as a class representative in the pending class action.
The Complaint alleges that CHC, a provider of commercial helicopter services to the offshore oil and gas industry worldwide, failed to disclose in connection with its IPO that one of its largest clients, Petroleo Brasileiro S.A. (“Petrobras”), had stopped making payments on its contracts with CHC since April 2013. The truth was finally disclosed on or around July 10, 2014, when CHC reported that the Company did not expect to recover revenues relating to the Petrobras contract, that guidance for future quarters would not reflect any recovery, and that CHC’s revenues for fiscal 2014 would come in at the bottom of the company’s guidance ranges. On July 10, 2014, CHC Group Ltd.’s shares declined $0.99 per share, or nearly 12%, to close on July 10, 2014 at $7.63 per share, a total decline of over 23% below the Company’s IPO price.
If you acquired CHC securities during the Class Period, if you have information or would like to learn more about these claims, or have any questions concerning this announcement, 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 email@example.com, or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.