CHC Group Ltd HELI Securities Lawsuit

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Company: CHC Group Ltd
Ticker Symbol: HELI
Class Period: Jan-16-14 to Jul-10-14
Date Filed: May-18-15
Lead Plaintiff Deadline: Jul-17-15
Court: Southern District of New York
New York, NY: A securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against CHC Group Ltd (NYSE: HELI) ("CHC"), certain of its officers, and the underwriting banks in CHC' January 16, 2014 Initial Public Offering ("IPO"), alleging multiple violations of the 1933 Securities Act in connection CHC' IPO. The case is brought on behalf of a putative class consisting of all investors who acquired CHC common stock pursuant and/or traceable to the IPO between January 16, 2014 and July 10, 2014, inclusive (the "Class Period").

The case alleges that CHC, a provider of commercial helicopter services to the offshore oil and gas industry worldwide, 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. It was not until a July 10, 2014 earnings call that CHC disclosed the truth, stating that the company did not expect to recover revenues relating to the contract, that guidance for future quarters would not reflect any recovery, and that CHC' revenues for fiscal 2014 would come in at the bottom of the company' guidance ranges. On July 10, 2014, CHC Group Ltd.' shares declined nearly 12% below their July 9, 2014 closing price, and more than 23% below the IPO price.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

CHC Group Ltd HELI Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible CHC Group Ltd securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.

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