SAN FRANCISCO, May 25, 2017 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in Petrofac Limited (Other OTC: POFCF; POFCY) to the firm's investigation into possible securities law violations related to the UK Serious Fraud Office's investigation for suspected bribery, corruption and money laundering.
If you purchased or otherwise acquired securities of Petrofac Limited before May 25, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing POFCF@hbsslaw.com.
On May 12, 2017, the Serious Fraud Office ("SFO") confirmed it is investigating the activities of Petrofac PLC, its subsidiaries, and their officers, employees and agents for suspected bribery, corruption and money laundering. This news drove the price of Petrofac securities significantly down.
On May 25, 2017, Petrofac announced the SFO had arrested and questioned CEO and COO. Both were released without charge. In addition, the Company's board suspended the COO and precluded the CEO from involvement in any matters connected to the SFO investigation. This news drove the price of Petrofac securities significantly down.
"We're focused on the facts unearthed by the SFO and others related to the Company's activities with Monaco-based Unaoil," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Petrofac should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email POFCF@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
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SOURCE Hagens Berman Sobol Shapiro LLP