The Shareholders Foundation announced that a deadline is coming up on March 7, 2016 in the lawsuit filed for certain investors in NASDAQ:KLXI shares over alleged securities laws violations by KLX Inc.
Investors who purchased shares of KLX Inc (NASDAQ:KLXI) have certain options and there are strict and short deadlines running. Deadline: March 7, 2016. NASDAQ:KLXI stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges on behalf of purchasers of KLX Inc (NASDAQ:KLXI) that KLX and certain insiders violated the Securities and Exchange Act of 1934 by misrepresenting the value of the Company’s identifiable intangible assets and goodwill associated with KLX’s Energy Services Group (“ESG”), as well as its policies and methodology related to the calculation of risk, goodwill, and asset impairment
On November 12, 2015, KLX announced that it expects to recognize a non-cash, after-tax asset impairment charge of approximately $435 million related to its Energy Services Group. Shares of KLX Inc (NASDAQ:KLXI) declined to as low as $28.35 per share on November 18, 2015.
Those who purchased NASDAQ:KLXI shares 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