|Company:||CHC Group Ltd|
|Class Period:||Jan-16-14 to Jul-10-14|
|Lead Plaintiff Deadline:||Jul-17-15|
|Court:||Southern District of New York|
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.