Helix Energy Solutions Group, Inc. Securities Litigation
On or around 05/01/2017 (Date of order of final judgment)
Filing Date: July 31, 2015
According to the law firm press release, the complaint alleges that 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 the Company's CEO 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. Upon this news, shares of Helix stock fell almost 17% to close at $9.40 per share on July 21, 2015.
Plaintiffs filed an amended complaint on March 14, 2016.
On February 14, 2017, the Court issued an Order granting Defendants' motion to dismiss. Plaintiffs were given leave to amend. Plaintiffs did not file an amended complaint. Thus Final Judgment was entered on May 1.
Company & Securities Information
Defendant: Helix Energy Solutions Group, Inc.
Industry: Oil & Gas Operations
Headquarters: United States
Ticker Symbol: HLX
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
Parviz Izadjoo, et al. v. Helix Energy Solutions Group, Inc., et al.