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.