CHC Group Ltd (NYSE:HELI) Investor Investigation Concerning Potential Securities Laws Violations Announced

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Company Name(s): 
CHC Group
Affected Securities: 

March 17, 2015 (Shareholders Foundation) - An investigation on behalf of investors of CHC Group Ltd (NYSE:HELI) shares over potential securities laws violations by CHC Group and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of CHC Group Ltd (NYSE:HELI) concerning whether a series of statements by CHC Group regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

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

On July 9, 2014, CHC Group Ltd reported its fiscal 2014 full year and fourth quarter operating results and provided its fiscal 2015 long term guidance.

CHC Group Ltd reported that its Total Revenue rose from over $1.74 billion for the 12 months period that ended on April 30, 2013 to over $17.6 billion for the 12 months period that ended on April 30, 2014 while its respective Net Loss increased from $119.44 million to $172.55 million.

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$1.18 per share on March 17, 2015.