|[July 18, 2014]
EQUITY ALERT: The Rosen Law Firm Announces Investigation of Securities Fraud Claims Against Key Energy Services, Inc.
NEW YORK --(Business Wire)--
The Rosen Law Firm, P.A. announces that it is investigating potential
securities fraud claims against Key Energy Services, Inc. (NYSE:KEG) in
connection with allegations that it may have violated the Foreign
Corrupt Practices Act.
On January 6, 2014, Key Energy Services announced that one of its
largest customers, Mexico State-owned oil giant Petroleos Mexicanos or
"PEMEX", is conducting an audit of Key Energy Services' aggregate
billings of $372 million under its contracts with PEMEX.
On May 6, 2014, the Company announced that "[t]he U.S. Securities and
Exchange Commission has advised us that it is investigating possible
violations of the U.S. Foreign Corrupt Practices Act involving business
activities of Key's operations in Russia." On July 1, 2014, the Company
announced that it expects to report a second quarter loss in the range
of $0.35 to $0.38 per share and will record a $30 million to $35 million
pre-tax charge for goodwill and other assets impairments related to its
operations in Russia. Additionally, Key Energy Services incurred pre-tax
expenses of $5 million in connection with the Foreign Corrupt Practices
The Rosen Law Firm is preparing a class action lawsuit on behalf of Key
Energy Services investors. If you purchased Key Energy Services
securities prior to July 18, 2014, you may visit the website at http://rosenlegal.com
to join the action. You may also contact Phillip Kim, Esq. or Kevin
Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail
at firstname.lastname@example.org or email@example.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and shareholder
Attorney Advertising. Prior results do not guarantee a similar outcome.
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