Cases
Bristow Group Inc. (BRS)
Securities Class Action
Overview
Overview
- Date:
- 2/15/2019
- Company Name:
- Bristow Group Inc.
- Stock Symbol:
- BRS
- Class Period:
- FROM 3/4/2014 TO 11/9/2018
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of Texas
NEW YORK, February 15, 2019 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of Texas on behalf of all persons or entities who purchased or otherwise acquired Bristow Group Inc. (NYSE: BRS) securities between February 8, 2018 and February 12, 2019 (the “Class Period”). Investors have until April 15, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that throughout the class period defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically the complaint alleges that defendants failed to disclose to investors: (1) that the company lacked adequate monitoring processes related to non-financial covenants within its secured financing and lease agreements; (2) that, as a result, the company could not reasonably assure compliance with certain non-financial covenants; (3) that, as a result, the company was reasonably likely to breach certain agreements; (4) that, as a result, the company had understated its short-term debt; (5) the required corrections would materially impact financial statements; (6) that there was a material weakness in the company’s internal controls over financial reporting; and (7) that, as a result of the foregoing, defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased Bristow Holdings securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The complaint alleges that throughout the class period defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically the complaint alleges that defendants failed to disclose to investors: (1) that the company lacked adequate monitoring processes related to non-financial covenants within its secured financing and lease agreements; (2) that, as a result, the company could not reasonably assure compliance with certain non-financial covenants; (3) that, as a result, the company was reasonably likely to breach certain agreements; (4) that, as a result, the company had understated its short-term debt; (5) the required corrections would materially impact financial statements; (6) that there was a material weakness in the company’s internal controls over financial reporting; and (7) that, as a result of the foregoing, defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased Bristow Holdings securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.