NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 21, 2019 to file lead plaintiff applications in a securities class action lawsuit against Valaris plc (f/k/a Ensco Rowan plc) (NYSE: VAL), if they purchased the Company’s securities between April 11, 2019 and July 31, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of Valaris and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-val/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 21, 2019.
About the Lawsuit
Valaris and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 31, 2019, the Company revealed its 2Q2019 financial results that were below market expectations leading to criticism by market analysts including a Seeking Alpha report highlighting the Company’s “massive cash usage [and] . . . surprisingly weak outlook for the ultra-deepwater segment” and free cash flow for the quarter, which was “negative by a whopping $375 million.”
On this news, the price of Valaris’ shares plummeted.
The case is Zhang v. Valaris Plc, 19-cv-07816.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
