Securities Class Action Filed Against CHC Group Ltd.
Violations of federal securities laws as a result of a series of materially false statements. CHC Group Ltd. is an offshore energy helicopter services specialist that facilitates long-distance crew changes on offshore production facilities and drilling rigs. CHC Group also provides search and rescue, emergency medical and repair services for government agencies and third parties. On January 21, 2014, CHC Group conducted its Initial Public Offering, selling 31 million shares at $10 per share. On July 10, 2014, CHC Group announced that “starting in April of 2013, Petrobras stopped making payments on contracts to CHC Group and other operators of 225 [helicopters] in Brazil until overwater flights with those aircraft resumed.” On this news, the price of CHC Group dropped from $8.62 to $7.63, or by more than 11%. Filed in S.D.N.Y.
Lead Plaintiff Deadline: The deadline to file for lead plaintiff in this action is 7/17/2015.
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