Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against KBR, Inc.
Oklahoma City, OK (May 4, 2017) – On May 3, 2017, a securities class action lawsuit was filed in the United States District Court for the Southern District of Texas against KBR, Inc. (NYSE: KBR). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is February 26, 2016 through April 27, 2017. More specifically, this litigation was filed because Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s United Kingdom (“UK”) subsidiaries had violated applicable bribery and corruption laws; and (ii) as a result of the foregoing, KBR’s public statements were materially false and misleading at all relevant times.
On April 28, 2017, the United Kingdom’s Serious Fraud Office confirmed that it had opened an investigation into “the activities of KBR’s UK subsidiaries, their officers, employees and agents for suspected offences of bribery and corruption.” On this news, the Company’s share price fell $1.43 to close at $14.05 on April 28, 2017.
Plaintiff seeks to recover damages on behalf of all KBR, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, July 3, 2017 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click here to obtain an investor certification. Once complete, please email this form to email@example.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.