Energy News / Shareholders Foundation, Inc.

Deadline Upcoming in $10.5 Million Settlement in the KBR Inc (NYSE: KBR) Investor Lawsuit

Via: ReleaseWire

Updated 11:15 AM CDT, Mon, August 14,2017

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of KBR Inc (NYSE: KBR) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on August 19, 2017 and NYSE: KBR investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 08/14/2017 -- The Shareholders Foundation announces that a deadline is coming up on August 19, 2017 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of KBR Inc (NYSE: KBR) between September 11, 2013 and July 30, 2014.

Investors who purchased a significant amount of shares of KBR Inc (NYSE: KBR) between September 11, 2013 and July 30, 2014, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the KBR Inc (NYSE: KBR) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/kbr-inc-nyse-kbr-investor-securities-class-action-lawsuit-05092014

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is August 19, 2017. The class action administrator for this case is Epiq.

The lawsuit was originally filed in the U.S. District Court for the Southern District of Texas over alleged violations of Federal Securities Laws by KBR Inc in connection with certain allegedly false and misleading statements made between April 25, 2013 and May 5, 2014.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of KBR Inc (NYSE: KBR) between April 25, 2013 and May 5, 2014, that the defendants violated Federal Securities Laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

More specifically, the plaintiff claims defendants allegedly misrepresented and/or allegedly failed to disclose that: KBR Inc had improperly estimated costs to complete certain contracts, that KBR Inc's revenue and financial results were overstated as a result of accounting errors in timing the recognition of revenues and from understating its income tax provision, that KBR Inc's financial statements were not prepared in accordance with Generally Accepted Accounting Principles, that KBR Inc lacked adequate internal and financial controls, and that as a result of the foregoing, KBR Inc's financial statements were materially false and misleading at all relevant times.
Those who purchased shares of KBR Inc (NYSE: KBR) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-upcoming-in-105-million-settlement-in-the-kbr-inc-nyse-kbr-investor-lawsuit-847669.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com