Valaris plc
0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
Case Summary | |
Company Name: | Valaris plc |
Stock Symbol : | NYSE: VAL |
Class Period Start: | 04/11/2019 |
Class Period End: | 07/31/2019 |
Lead Plaintiff motion: | 10/21/2019 |
Date Filed: | 08/20/2019 |
Type of Case: | Securities Class Action |
Court: | U.S. District Court for the Southern District of New York |
Summary: | Thieler Law Corp advises investors with losses exceeding $100,000 of the October 21, 2019 lead plaintiff deadline in a class action lawsuit filed against Valaris plc (NYSE: VAL) (“Valaris” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Valaris plc securities between April 11, 2019 and July 31, 2019, have until October 21, 2019 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class. If you purchased Valaris plc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class. The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Valaris was plagued by a weak ultra-deepwater segment, massive cash usage, and significant negative cash flow; the foregoing was reasonably likely to have a material negative impact on Valaris’s second quarter 2019 results; the merger leading to Valaris’s establishment could not deliver on its touted benefits; and as a result, Valaris’s public statements were materially false and misleading at all relevant times. On August 1, 2019, the Company revealed its second-quarter 2019 results and held an earnings conference call. During the call, Valaris’ CEO revealed that, “In terms of our financial results, we reported adjusted EBITDA of $59 million for the quarter better than the outlook we provided in our first quarter conference call. While these results exceeded expectation, some of this outperformance was due to the timing of contract drilling expenses that were originally anticipated to occur in the second quarter and are now expected to occur in the third quarter of 2019.” Following this news, NYSE: VAL fell $3.25 per share, or 39.3%, over two trading days, to close at $5.02 on August 2, 2019. If you were negatively impacted by your investment in Valaris plc securities between April 11, 2019 and July 31, 2019 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. Thieler Law Corp purchases advertisements on search engines, social media sites and other websites. If you send us information, note that does not create an attorney-client relationship with the firm. Materials are provided for informational purposes only and do not constitute legal advice. We are only licensed to practice law in Germany. We are neither licensed nor qualified to render advice on US Federal or State law. Thieler Law Corp 2534 State Street - Suite 406, San Diego, CA 92101 by email: mail@thielerlaw.com or telephone at +1 (619) 377 - 4324 or visit our website http://www.thielerlaw.com/ or Facsimile: +1 (619) 785 – 3185 |