San Diego, CA -- (ReleaseWire) -- 05/20/2014 -- An investigation on behalf of investors in Key Energy Services, Inc. (NYSE:KEG) shares was announced over potential breaches of fiduciary duties by certain officers and directors at Key Energy Services.
Investors who purchased shares of Key Energy Services, Inc. (NYSE:KEG) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Key Energy Services officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On January 6, 2014, Key Energy Services, Inc. provided the updates for the fourth quarter 2013: Among other things, Key Energy Services, Inc. said that PEMEX is conducting an audit of the Company’s aggregate billings of $372 million under its contracts with PEMEX and that as a result, the company expects to take a charge of between $2 million and $3 million in the fourth quarter 2013.
Shares of Key Energy Services declined from $7.97 per share on January 6, 2014, to $7.05 per share on January 9, 2014.
On May 6, 2014, Key Energy Services, Inc disclosed that the U.S. Securities and Exchange Commission (“SEC”) has advised Key Energy Services, Inc that the SEC is investigating possible violations of the U.S. Foreign Corrupt Practices Act involving business activities of Key's operations in Russia.
Shares of Key Energy Services declined to as low as $7.75 per share during May 16, 2014.
Those who purchased shares of Key Energy Services, Inc. (NYSE:KEG), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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