Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against KBR, Inc. (KBR)

NEW YORK, May 04, 2017 -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against KBR, Inc. (“KBR” or the “Company”) (Nasdaq:KBR) in the United States District Court for the Southern District of Texas on behalf of a class consisting of investors who purchased or otherwise acquired KBR stock on the open market from February 26, 2016 through April 27, 2017, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.

The Complaint alleges Defendants made false and misleading statements and/or failed to disclose that: (1) KBR’s United Kingdom subsidiaries had violated applicable bribery and corruption laws; and (2) as a result, KBR’s public statements were materially false and misleading at all relevant times.  On April 28, 2017, the United Kingdom’s Serious Fraud Office confirmed it is investigating “the activities of KBR’s UK subsidiaries, their officers, employees and agents for suspected offences of bribery and corruption.”  On this news, shares of KBR fell $1.43 per share or over 9% to close at $14.05 per share on April 28, 2017, damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than July 3, 2017.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

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