NEW YORK, Feb. 19, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Bristow Group, Inc. ("Bristow" or the "Company") (NYSE: BRS). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Bristow and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 11, 2019, after the market closed, Bristow filed a Form 8-K with the U.S. Securities and Exchange Commission ("SEC") disclosing that the Company "did not have adequate monitoring control processes in place related to non-financial covenants within certain of its secured financing and lease agreements." On this news, Bristow's stock price fell $1.22 per share, or nearly 40%, to close at $1.84 per share on February 12, 2019.
Then, on February 12, 2019, Bristow filed a Form 8-K with the SEC announcing that: (i) Bristow had terminated its agreement to purchase Columbia Helicopters, Inc.; and (ii) Jonathan E. Baliff would retire as Bristow's Chief Executive Officer and would resign from the Board of Directors, effective February 28, 2019. On this news, Bristow's stock price fell $0.64 per share, or nearly 35%, to close at $1.20 per share on February 13, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP