NEW YORK, May 23, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at CHC Group Ltd. ("CHC Group" or the "Company") (NYSE: HELI).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose to shareholders that the Company had not been receiving payments from a key client for many months.
On July 10, 2014, CHC Group's executive officers revealed that Petrobras had not made payments on contracts to CHC Group since April 2013 – approximately nine months prior to the Company's IPO. On this news, shares of CHC Group's stock declined $0.99 per share, or 11.5%, to close on July 10, 2014 at $7.63 per share. The closing price of the Company's common stock on July 10, 2014 represented a decline of more than 23% from the price of the stock at the time of CHC Group's IPO less than six months prior.
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If you invested in CHC Group stock or options between January 16, 2014 and July 10, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/HELI. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding CHC Group's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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