Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that the firms are investigating legal claims against the officers and Board of Directors of Layne Christensen Company (“Layne” or “LAYN”) (Nasdaq: LAYN) for potential breaches of fiduciary duties and violations of the Foreign Corrupt Practices Act (“FCPA”). Specifically, Layne recently announced that “it expects to record a non-cash after-tax impairment in charge in the fourth quarter . . . of between $70 and $80 million.” Additionally, Layne announced that an internal investigation revealed that it found documents suggesting that Layne may have made improper payments “over a considerable period of time” in violation of the FCPA and other local laws.
If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
According to shareholder rights attorney Willie Briscoe, “The recent revelations that Layne may have violated the FCPA by making improper payments in Africa has led our firms to investigate possible breaches of fiduciary duties and other violations of state and federal law by Layne’s officers and directors. Based on our investigation, we are prepared to institute litigation to preserve the company and the value of Layne stock for all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.