STEVENSON, Md., July 08, 2015 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of CHC Group Ltd. (“CHC” or the “Company”) (NYSE:HELI) common stock pursuant and/or traceable to the initial public offering (“Offering”) between January 16, 2014 and July 10, 2014, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until July 17, 2015 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in CHC common stock during the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company common stock during the Class Period. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities Act of 1933 by virtue of the defendants’ failure to disclose in the Registration Statement and Prospectus (“Offering Documents”) that CHC, a provider of commercial helicopter services to the offshore oil and gas industry worldwide, failed to disclose in connection with the Offering that one of its largest clients, Petroleo Brasileiro S.A., had stopped making payments on its contracts with CHC in April 2013. According to the complaint, following a July 10, 2014 earnings call when the Company disclosed that it did not expect to recover revenues relating to the contract with Petroleo Brasileiro S.A., the value of CHC shares declined significantly.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 firstname.lastname@example.org
Source: Brower Piven, A Professional Corporation