Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Southern District of Texas on behalf of purchasers of the securities of Key Energy Services, Inc. (“Key Energy” or the “Company”) (NYSE:KEG) between July 25, 2013 and July 17, 2014, inclusive (the “Class Period”). Key Energy operates as an onshore well servicing contractor offering rig-based services and specialty drilling services to oil and natural gas producers in the United States and internationally. The Complaint alleges that defendants misrepresented or failed to disclose material facts concerning the Company’s operations and financial performance. Specifically, defendants misrepresented or failed to disclose that:
- The Company’s production for Petroleos Mexicanos (PEMEX), one of its largest customers, was in decline.
- The Company engaged in improper conduct related to its Russia operations, and its business practices in Russia were in violation of the Foreign Corrupt Practices Act.