LOS ANGELES, April 11, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Bristow Group Inc. (“Bristow” or “the Company”) (NYSE: BRS) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between February 8, 2018 and February 12, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before April 15, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Bristow failed to maintain appropriate monitoring processes for non-financial covenants related to its secured financing and leasing agreements. This failure resulted in the Company lacking the ability to reasonably assure compliance on non-financial covenants. In fact, the Company was reasonably likely to breach these non-financial covenants. At the same time, Bristow understated its short-term debt. Correcting this error would materially impact the Company’s financial statements. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Bristow, investors suffered damages.
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