This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

KBR SHAREHOLDER ALERT: The Law Firm Of Wohl & Fruchter LLP Announces Investigation Of KBR, Inc.

The law firm of Wohl & Fruchter LLP is investigating possible violations of federal securities laws by officers and directors of KBR, Inc. (KBR) (NYSE:KBR).

On May 5, 2014, KBR announced that its financial statements for the year ended December 31, 2013, will need to be restated, and should no longer be relied upon due to errors with respect to, among other things, the reversal of previously recognized pre-tax profits and the recognition of pre-tax estimated losses on certain Canadian pipe fabrication and module assembly contracts.

As a result of the foregoing, certificates furnished by KBR to the bank syndicate that provided a $1 billion, five-year unsecured revolving credit in December 2011 were incorrect, which constitutes an event of default under the credit agreement. KBR further stated that since the certificates provided to the banks under the credit agreement are no longer valid, without further agreement from the bank syndicate, KBR is prohibited from requesting the issuance of any new letters of credit or loan advances under its committed and uncommitted lines of credit, which could materially impact its business operations and liquidity. Further, under certain circumstances, KBR may also be required to provide cash collateral to secure outstanding letters of credit or surety bond positions.

Upon the above news, KBR has dropped nearly 6% in trading on May 5, 2014.

Persons with relevant information, and KBR shareholders with questions about this investigation, are invited to contact the attorney below, or our Firm by calling 866.833.6245.

Additional information is available on our website at:

About Wohl & Fruchter

Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and other fiduciary breaches by corporate managers, as well as other complex litigation matters. Please visit our website,, to learn more about our Firm, or contact one of our partners.

This release may be deemed to constitute attorney advertising.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,719.92 -78.57 -0.44%
S&P 500 2,080.41 -9.70 -0.46%
NASDAQ 5,108.6660 -18.8590 -0.37%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs