The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Bristow Group Inc. (NYSE: BRS) who purchased shares between February 8, 2018 and February 12, 2019. The action, which was filed in the United States District Court for the Southern District of Texas, alleges that the Company violated federal securities laws.
In particular, the Bristow lawsuit alleges that (1) Bristow lacked adequate monitoring processes related to non-financial covenants within its secured financing and lease agreements; (2) Bristow could not reasonably assure compliance with certain non-financial covenants; (3) Bristow was reasonably likely to breach certain agreements; (4) Bristow had understated its short-term debt; (5) the required corrections would materially impact financial statements; (6) there was a material weakness in Bristow’s internal controls over financial reporting; and (7) as a result of the foregoing, defendants’ positive statements about Bristow’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until April 15, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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