EQUITY ALERT: The Rosen Law Firm Announces Investigation of Securities Claims Against Willbros Group Inc.
March 18 2015 - 8:12PM
Business Wire
The Rosen Law Firm, P.A., a global investor rights law firm,
announces it is investigating potential securities claims on behalf
of shareholders of Willbros Group Inc. (NYSE:WG) resulting from
allegations that Willbros Group may have issued materially
misleading business information to the investing public.
On March 17, 2015, Willbros Group announced that it is unable to
timely file its Form 10-K for the year ended December 31, 2014. In
its announcement, the Company stated that it “does not expect to be
in compliance with its Maximum Leverage Ratio and Minimum Interest
Coverage Ratio for the period from March 31, 2015 through March 31,
2016.” The Company further stated “that a material weakness existed
at December 31, 2014, over the assessment of significant risks and
uncertainties associated with its ability to comply with financial
covenants contained in its credit agreements, and over the
assessment of its ability to meet its liquidity and capital
resource needs for a reasonable period of time, primarily as a
result of not reflecting certain business conditions timely and
adequately in its forecast process.” On this news, shares of
Willbros Group fell $2.79 per share or over 50% from its previous
closing price to close at $2.69 per share on March 18, 2015.
The Rosen Law Firm is preparing a class action lawsuit to
recover losses suffered by Willbros Group investors. If you
purchased shares of Willbros Group on or before March 17, 2015,
please visit the website at http://rosenlegal.com/cases-554.html
for more information. You may also contact Phillip Kim, Esq. or
Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or
via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: 212-686-1060Toll Free: 866-767-3653Fax:
212-202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com