NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in KBR, Inc. (“KBR” or the “Company”) (NYSE:KBR) of the July 3, 2017 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in KBR stock or options between February 27, 2014 and April 27, 2017 and would like to discuss your legal rights, click here: www.faruqilaw.com/KBR. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
The lawsuit has been filed in the U.S. District Court for the Southern District of Texas on behalf of all those who purchased KBR securities between February 27, 2014 and April 27, 2017 (the “Class Period”). The case, Porter v. KBR, Inc. et al. No. 4:17-cv-01840 was filed on June 16, 2017.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by engaging in activities that have potentially violated applicable bribery and corruption laws in the United Kingdom.
Specifically, on April 28, 2017, the United Kingdom’s Serious Fraud Office announced an investigation into KBR’s “officers, employees and agents for suspected offenses of bribery and corruption.”
After the announcement, KBR’s share price fell from $15.84 per share on April 27, 2017 to a closing price of $14.05 on April 28, 2017—a $1.43 or a 9.2% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding KBR’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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