Market Overview

Glancy Prongay & Murray LLP Commences Investigation on Behalf of Petrofac Ltd. Investors

Share:





Glancy
Prongay & Murray LLP
("GPM") announces an investigation on
behalf of Petrofac Ltd. ("Petrofac" or the "Company") (OTC: POFCY)
investors concerning the Company and its officers' possible violations
of federal securities laws. To obtain information or aid in the
investigation, please visit the Petrofac investigation page on our
website at www.glancylaw.com/case/petrofac-ltd.

On May 25, 2017, Petrofac suspended its chief operating officer Marwan
Chedid after a U.K. prosecutor said the Company hasn't cooperated with a
bribery probe. The Company has also brought on a "senior external
specialist" and set up a new committee to oversee the response to the
bribery investigation. Petrofac CEO Ayman Asfari and COO Marwan Chedid
were arrested, questioned and released without being charged in
connection with alleged bribes paid to secure lucrative contracts.

On this news, shares of Petrofac fell sharply, over 30%, during intraday
trading on May 25, 2017.

If you purchased Petrofac securities, have information or would like to
learn more about these claims, or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Lesley
Portnoy
, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los
Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by
email to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com