NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Baker Hughes Company (NYSE: BKR) resulting from allegations that Baker Hughes may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Baker Hughes securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to http://www.rosenlegal.com/cases-register-2050.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
WHAT IS THIS ABOUT: On February 25, 2021, after market hours, Baker Hughes filed its annual report with the SEC. In the report, Baker Hughes revealed that, in December of 2020, the SEC had notified Baker Hughes of an investigation into the Company “related to its books and records and internal controls regarding sales of its products and services in projects impacted by U.S. sanctions.” Baker Hughes also revealed that it had also initiated an internal review “regarding internal controls and compliance related to U.S. sanctions requirements.”
On this news, Baker Hughes share prices fell by $0.25 to close at $24.48 on February 26, 2021 on heavy trading volume. Over the next several trading days, Baker Hughes shares continued to trade at unusually high volumes, and the price dropped as low as $23.00 per share on March 4, 2021.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. 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 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020 founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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