The Shareholders Foundation announces that an investigation for investors, who purchased shares of KBR, Inc. in 2012 or earlier and currently hold any of those NYSE:KBR shares, was launched concerning potential wrongdoing at KBR, Inc. Shares of KBR, Inc. (NYSE:KBR) declined from as high as $36.10 per share in May 2013 to as low as $14.00 per share in March 2015.
Investors who are current long term investors in KBR, Inc. (NYSE:KBR) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain KBR officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On May 5, 2014, KBR Inc announced that the Audit Committee of KBR Inc’s Board of Directors has concluded that the company’s previously issued condensed consolidated financial statements for the year ended December 31, 2013, should no longer be relied upon and should be restated.
On May 9, 2014, a lawsuit was filed against KBR Inc over alleged securities laws violations. The plaintiff claims defendants allegedly misrepresented and/or allegedly failed to disclose that: KBR Inc had improperly estimated costs to complete certain contracts, that KBR Inc’s revenue and financial results were overstated as a result of accounting errors in timing the recognition of revenues and from understating its income tax provision, that KBR Inc’s financial statements were not prepared in accordance with Generally Accepted Accounting Principles, that KBR Inc lacked adequate internal and financial controls, and that as a result of the foregoing, KBR Inc’s financial statements were materially false and misleading at all relevant times.
Those who purchased shares of KBR, Inc. have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com