NEW YORK, March 10, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Baker Hughes Company ("Baker Hughes" or the "Company") (NYSE: BKR). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Baker Hughes and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 25, 2021, post-market, Baker Hughes filed its annual report with the U.S. Securities and Exchange Commission ("SEC"). In the report, Baker Hughes revealed that, in December of 2020, the SEC had notified Baker Hughes of an investigation into the Company "related to its books and records and internal controls regarding sales of its products and services in projects impacted by U.S. sanctions." Baker Hughes also revealed that the Company had initiated an internal review "regarding internal controls and compliance related to U.S. sanctions requirements." On this news,
Baker Hughes's stock price fell $0.25 per share, or 1.01%, to close at $24.48 per share on February 26, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP