NEW YORK, Feb. 15, 2019 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Bristow Group Inc. (“Bristow” or the “Company”) (NYSE: BRS) in the United States District Court for the Southern District of Texas on behalf of those who purchased or acquired the securities of Bristow between February 8, 2018 through February 12, 2019, inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Bristow lacked adequate monitoring processes related to non-financial covenants within its secured financing and lease agreements; (2) Bristow could not reasonably assure compliance with certain non-financial covenants; (3) Bristow was reasonably likely to breach certain agreements; (4) Bristow had understated its short-term debt; (5) the required corrections would materially impact financial statements; (6) there was a material weakness in Bristow’s internal controls over financial reporting; and (7) as a result of the foregoing, Defendants’ positive statements about Bristow’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the April 15, 2019 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at email@example.com or firstname.lastname@example.org.
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