Shareholder Alert – Investigation of Potential Securities Claims on Behalf of Investors of Petrofac Ltd. (OTC: POFCY)
Kehoe Law Firm, P.C. is investigating potential claims on behalf of purchasers of Petrofac Ltd. involving possible securities law violations related to a bribery, corruption and money laundering investigation by the UK Serious Fraud Office.
Bribery, Corruption and Money Laundering Investigation
On May 12, 2017, the U.K.’s Serious Fraud Office announced that it has launched an investigation into Petrofac’s activities, on suspicion of “bribery, corruption and money laundering.” Following this news, Petrofac’s stock dropped significantly to its lowest level since June 2016.
Then, on May 25, 2017, Petrofac announced the UK Serious Fraud Office had arrested and questioned the company’s CEO and COO. Both were released without charge. In addition, the Company’s board suspended the COO and precluded the CEO from involvement in any matters connected to the SFO investigation.
On this news, the price of Petrofac securities fell by nearly 30%.
Petrofac Stock Losses?
If you purchased or otherwise acquired Petrofac shares before May 25, 2017 and would like to speak privately with a securities attorney to contribute to or learn more about the investigation, please complete the form to the right or contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected]; or send an e-mail to [email protected].
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors and consumers from corporate fraud, negligence, and other wrongdoing. Driven by a strong and principled sense of social responsibility and obtaining justice for the aggrieved, Kehoe Law Firm, P.C. represents plaintiffs seeking to recover investment losses resulting from securities fraud, breaches of fiduciary duty, corporate wrongdoing or malfeasance, those harmed by anticompetitive practices, and consumers victimized by fraud, false claims, deception or data breaches. Together, the partners of the Kehoe Law Firm, P.C. have spent more than 30 years prosecuting precedent-setting securities and financial fraud cases in federal and state courts on behalf of institutional and individual clients.