NEW YORK, Jan. 7, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of KLX, Inc. ("KLX" or the "Company") (NASDAQ: KLXI), concerning whether the board has breached its fiduciary duties to shareholders.
On November 12, 2015, the Company disclosed that it would be forced to recognize an impairment charge of approximately $435 million related to its Energy Services Group. On this news, KLX stock fell approximately 16%. Media reports allege that the Company and certain of its officers and/or directors may have misrepresented the value of KLX's intangible assets.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own KLX shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq. Benjamin I. Sachs-Michaels, Esq. Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400 (212)935-7400 Email: firstname.lastname@example.org Website: http://www.hfesq.com Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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