The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of purchasers of KBR, Inc. (“KBR” or the “Company”) (NYSE: KBR) securities during the period between April 25, 2013 and May 5, 2014, inclusive (the “Class Period”).
If you have suffered a loss from investment in KBR securities purchased on or after April 25, 2013 and held through the revelation of negative information on May 5, 2014, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or financial obligation, click here: http://www.browerpiven.com/securitiesfraudcases.html.
You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616. Attorneys at Brower Piven together have more than a century of experience litigating securities and other class action cases.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than July 8, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that the Company had improperly estimated costs to complete certain contracts and that the Company’s financial statements were not prepared in accordance with Generally Accepted Accounting Principles. According to the complaint, following the Company’s May 5, 2014 announcement that the Audit Committee of the Company’s Board of Directors concluded that KBR’s previously issued consolidated financial statements for the year ended December 31, 2013 should no longer be relied upon and that it intends to restate its consolidated financial statement for fiscal 2013, the value of KBR shares declined significantly.
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