CHC Group Ltd (NYSE: HELI) Investor Securities Class Action Lawsuit 05/15/2015

You must submit the settlement "Proof" form attached below, in order to participate in this settlement. There is a strict deadline of November 2, 2017 by which all claims must be submitted. The instructions for submitting are included in the "Proof" and the "Notice" files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, FOLLOW THE DIRECTIONS IN THE "PROOF".

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Company Name(s): 
CHC Group
Case Name: 
CHC Group Shareholder Class Action Lawsuit 05/15/2015
Case Status: 
Lawsuit Filed
Case Status: 
Settlement Proposed
Affected Securities
NYSE: HELI
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
05/15/2015
Class Period Begin: 
01/16/2014
Class Period End: 
07/10/2014
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
07/17/2015
Date Settled: 
06/28/2017
Settlement Amount: 
$3,850,000
Deadline to Participate in Settlement: 
11/02/2017
Settlement Notice: 
Settlement Proof: 
Summary: 

The settlement includes all persons who purchased shares of CHC Group Ltd (NYSE: HELI) in the January 16, 2014 IPO and/or in the open market during the period from January 16, 2014 and July 10, 2014.

June 28, 2017 - The court preliminarily approved the settlement.

June 19, 2017 - Parties filed a stipulation of settlement.

November 7, 2016 - The court granted in part and denied in part defendants' motion to dismiss.

December 18, 2015 - Defendants filed a motion to dismiss.

November 9, 2015 - The lead plaintiff filed an amended consolidated complaint on behalf of investors who purchased CHC Group Ltd (NYSE: HELI) common shares pursuant and/or traceable to the Registration Statement for CHC's January 16, 2014 initial public offering (IPO) of common stock, including (a) CHC shares purchased in the IPO on or about January 16, 2014, as well as (b) CHC shares purchased on the open market during the period from January 16, 2014 and July 10, 2014. The lead plaintiff alleges that the defendants violated the Securities Act of 1933 by issuing false and misleading statements between January 16, 2014 and July 10, 2014.

September 21, 2015 - Lead plaintiff and lead counsel were appointed and all cases were consolidated.

July 17, 2015 - Lead plaintiff motion was filed.

May 15, 2015 - An investor in shares of CHC Group Ltd (NYSE: HELI) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of the 1933 Securities Act in connection CHC Group Ltd’s January 16, 2014 Initial Public Offering (“IPO”).

According to the complaint the plaintiff alleges on behalf of purchasers who acquired CHC Group Ltd (NYSE: HELI) common stock pursuant and/or traceable to the IPO between January 16, 2014 and July 10, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that CHC Group Ltd allegedly failed to disclose in connection with its IPO that one of its largest clients, Petroleo Brasileiro S.A., had stopped making payments on its contracts with CHC Group Ltd since April 2013.

On January 21, 2014, CHC Group Ltd conducted its Initial Public Offering (“IPO”), selling 31 million shares at $10 per share.

On July 10, 2014, CHC Group Ltd announced that “starting in April of 2013, Petrobras stopped making payments on contracts to CHC Group and other operators of 225[] [helicopters] in Brazil until overwater flights with those aircraft resumed.”

Shares of CHC Group Ltd (NYSE: HELI) declined from $9.80 per share in late January 2014 to as low as $1.07 per share on April 27, 2015.