NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces investigation of potential securities claims on behalf of shareholders of Kirby Corp. (NYSE: KEX) resulting from allegations that KEX may have issued materially misleading business information to the investing public.
On July 8, 2020, Kirby announced that, for the first quarter ended March 31, 2020, it had understated non-cash non-recurring goodwill impairment charges by $127,933,000 before taxes, $98,773,000 after taxes, or a $1.65 loss per share, due to not applying a specific provision of a new accounting standard that the Company had recently adopted on January 1, 2020. On this news, Kirby share prices dropped from opening at $50.20 per share on July 8, 2020 to close at $48.77 per share that day. Kirby’s share prices continued to decline over the next several trading days, trading as low as $46.42 on July 13, 2020.
Rosen Law Firm is preparing a securities lawsuit on behalf of Kirby shareholders. If you purchased securities of Kirby please visit the firm’s website at http://www.rosenlegal.com/cases-register-1895.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at mailto:email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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