BALA CYNWYD, Pa., Sept. 30, 2014 /PRNewswire/ -- Law Office of
Brodsky & Smith, LLC announces that a class action lawsuit has
been commenced in the United States District Court for the Southern
District of Texas on behalf of
purchasers of Key Energy Services, Inc. ("Key Energy" or the
"Company") (KEG) securities during the period between July 25, 2013 through July
17, 2014, inclusive (the "Class Period").
Click here to learn more
http://brodsky-smith.com/827-keg-key-energy-services-inc.html, or
call: 877-534-2590. There is no cost or obligation to you.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants'
failure to disclose during the Class Period that the Company's
production for Petroleos Mexicanos (PEMEX), one of its largest
customers, was in decline, and that the Company's business
practices in Russia were in
violation of the Foreign Corrupt Practices Act. According to
the complaint, following the Company's July
17, 2014 announcement that the Company would record a
$30-$35 million pre-tax charge for
goodwill and other asset impairments related to the Company's
operations in Russia, the value of
Key Energy shares declined significantly.
If you have suffered a loss from investment in Key Energy
securities purchased on or after July 25,
2013 and would like to learn more about the litigation,
without cost or obligation to you, please visit our website at
http://brodsky-smith.com/827-keg-key-energy-services-inc.html. You
may also request more information by contacting Brodsky-Smith by
telephone at (877)534-2590.
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and case action lawsuits. The attorneys at Brodsky &
Smith have been appointed by numerous courts throughout the country
to serve as lead counsel in class actions and successfully
recovered millions of dollars for our clients and shareholders.
Attorney advertising. Prior results do not guarantee a similar
outcome. Brodsky & Smith, LLC may not have filed a
complaint.
SOURCE Brodsky & Smith, LLC