Hynes Keller & Hernandez, LLC Announces an Investigation of Willbros Group Inc. (NYSE: WG)
NEW YORK, Nov. 13, 2014 /PRNewswire/ -- Hynes Keller & Hernandez, LLC, a shareholder rights litigation firm has commenced an investigation into Willbros Group Inc. ("Willbros" or the "Company") relating to potential violations of federal securities laws.
Willbros operates as an energy infrastructure contractor serving the oil, gas, refinery, petrochemical, and power industries worldwide. The Company provides engineering, procurement, maintenance, facilities development, and operations services to industry and government entities.
On October 22, 2014, the Company announced that it would restate second quarter 2014 results after identifying approximately $22 to $24 million in losses caused by the deterioration of a "significant pipeline construction project." The Company further stated that, "this deterioration consists of the reversal of approximately $8.0 million in pre-tax income previously recognized and the recognition of approximately $14.0 to $16.0 million in estimated pre-tax losses at project completion." As a result of this news, Willbros stock dropped to $4.90 per share on October 22, 2014, or over 35%, on heavy volume.
Hynes Keller & Hernandez, LLC is investigating whether Willbros and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
What You Can Do
If you are a Willbros shareholder you may have legal claims against Willbros and/or its Officers and Directors. Click here for more information about the Willbros investigation: http://hkh-lawfirm.com/investigations-cases/willbros-group-inc-wg/. There is no cost or obligation to you.
If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact the attorneys' below.
About Hynes Keller & Hernandez, LLC
Hynes Keller & Hernandez, LLC is a law firm dedicated to representing individual and institutional investors who have been wronged by corporate transgressions such as breaches of fiduciary duty, mismanagement, corporate waste and insider trading. Please visit www.hkh-lawfirm.com for more information about the firm. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: |
|
Hynes Keller & Hernandez, LLC |
Hynes Keller & Hernandez, LLC |
Ligaya T. Hernandez, Esq. |
Beth A. Keller, Esq. |
1150 First Avenue, Suite 501 |
100 South Bedford Road, Suite 340 |
King of Prussia, PA 19406 |
Mount Kisco, NY 10549 |
Telephone: (610) 994-0292 |
Telephone: (914) 752-3040 |
Email: [email protected] |
Email: [email protected] |
SOURCE Hynes, Keller & Hernandez, LLC
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