On or around 04/26/2016 (Date of order of final judgment)
Filing Date: August 15, 2014
According to the law firm press release, the Complaint alleges that defendants made false and misleading statements and/or failed to disclose: (1) that the Company's production for one of its largest customers was in decline; (2) that the Company engaged in improper conduct related to its operations in Russia; and (3) that the Company's business practices in Russia were in violation of the U.S. Foreign Corrupt Practices Act. As a result, the lawsuit claims that when these adverse facts became known, the value of Key Energy's stock dropped, damaging investors.
On December 11, 2014, the Court issued an Order appointing lead plaintiff and approving lead counsel. Lead Plaintiff filed a consolidated complaint on February 13, 2015.
On March 31, 2016, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to file an amended complaint. Plaintiffs did not file an amended complaint, thus Final Judgment was entered on April 26.
Company & Securities Information
Defendant: Key Energy Services, Inc.
Industry: Oil Well Services & Equipment
Headquarters: United States
Ticker Symbol: KEG
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Sean Cady, et al. v. Key Energy Services, Inc., et al.