NEW YORK, Sept. 10, 2015 (GLOBE NEWSWIRE) -- Morgan & Morgan reminds investors that a securities class action lawsuit has been commenced in the Southern District of Texas on behalf of all persons or entities who purchased or otherwise acquired securities of Helix Energy Solutions Group, Inc. ("Helix") (NYSE:HLX) between October 21, 2014 and July 21, 2015 (the "Class Period").
If you purchased Helix securities during the Class Period, you may, no later than September 29, 2015, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of all class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
If you want more information about the Helix Securities Class Action, contact Morgan & Morgan at 1(800) 732-5200 or email info@morgansecuritieslaw.com
According to the complaint, throughout the Class Period defendants issued materially false and misleading statements and/or failed to disclose material information. During an October 21, 2014 earnings call CEO Owen Kratz stated that the Q4000 vessel would be out of drydock for approximately "45 days and the H534 for about 30 days." Then on July 20, 2015, the Company announced disappointing financial results for the second quarter of 2015. In the Company's Form 10-Q filed two days later, Helix disclosed the Q4000 was in dry dock for 75 of the 91 days in the second quarter, and that the H534 was utilized for 50 days of that quarter. Following this news, shares of Helix stock fell almost 17% to close at $9.40 per share on July 21, 2015.
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