NEW YORK, July 22, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Layne Christensen Company ("Layne" or the "Company") (NASDAQ: LAYN). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Layne and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 22, 2014, the Company announced in a Securities and Exchange Commission ("SEC") filing that on July 17, 2014, James Easter resigned from his position as Senior Vice President and Chief Financial Officer of the Company, with such resignation to become effective on August 1, 2014, and Martha Vance resigned from her position as Vice President and Chief Accounting Officer of the Company, with such resignation to become effective on August 1, 2014.
On this news, shares of Layne fell $0.85 per share to $11.38, or more than 6.95%, in intraday trading on July 22, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, 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 70 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
SOURCE Pomerantz LLP