NEW ORLEANS, May 29, 2015 /PRNewswire/ -- Kahn Swick
& Foti, LLC ("KSF") and KSF partner, the former Attorney
General of Louisiana, Charles C. Foti, Jr., remind investors that they
have until July 17, 2015 to
file lead plaintiff applications in a securities class action
lawsuit against CHC Group Ltd. (NYSE: HELI) if they purchased the
Company's securities pursuant and/or traceable to the Company's
initial public offering ("IPO") between January 16, 2014 and July
10, 2014, inclusive (the "Class Period"). This action is
pending in the United States District Court for the Southern
District of New York.
What You May Do
If you purchased shares of CHC and would like to discuss your
legal rights and how this case might affect you and your right to
recover for your economic loss, you may, without obligation or cost
to you, call toll-free at 1-877-515-1850 or email KSF Managing
Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to
serve as a lead plaintiff in this class action, you must petition
the Court by July 17,
2015.
About the Lawsuit
CHC and certain of its executives are charged with failing to
disclose material information during the Class Period, violating
federal securities laws.
The case alleges that CHC failed to disclose in connection with
its IPO that one of its largest clients, Petroleo Brasileiro S.A.,
had stopped making payments on its contracts with CHC since
April 2013.
During a July 10, 2014 earnings
call, CHC stated that it did not expect to recover revenues
relating to the Petroleo Brasileiro S.A. 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 this news, the price of CHC's shares plummeted.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former
Louisiana Attorney General, Charles C.
Foti, Jr., and other lawyers with significant experience
litigating complex securities class actions nationwide on behalf of
both institutional and individual shareholders, you may visit
www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
206 Covington St.
Madisonville, LA 70447
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SOURCE Kahn Swick & Foti, LLC