Law
Offices of Howard G. Smith announces that a class action lawsuit has
been filed in the United States District Court for the Southern District
of Texas on behalf of all purchasers of the securities of KBR, Inc.
(“KBR” or the “Company”) (NYSE:KBR) between April 25, 2013 and May 5,
2014, inclusive (the “Class Period”).
KBR operates as an engineering, construction and services company,
supporting the energy, hydrocarbons, power, minerals, civil
infrastructure, government services, industrial and commercial market
segments. The Complaint alleges that throughout the Class Period
defendants issued false and/or misleading statements and/or failed to
disclose material adverse facts concerning KBR’s business, operations
and prospects. Specifically, defendants misrepresented and/or failed to
disclose that:
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The Company had improperly estimated costs to complete certain
contracts.
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The Company’s revenue and financial results were overstated as a
result of accounting errors in timing the recognition of revenues and
from understating its income tax provision.
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The Company’s financial statements were not prepared in accordance
with Generally Accepted Accounting Principles.
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The Company lacked adequate internal and financial controls.
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As a result of the foregoing, the Company’s financial statements were
materially false and misleading at all relevant times.
If you are a member of the Class described above, you have until July 8,
2014, to move the Court to serve as lead plaintiff, if you meet certain
legal requirements. To be a member of the Class you need not take any
action at this time; you may retain counsel of your choice or take no
action and remain an absent member of the Class. If you wish to learn
more about this action, please contact Howard G. Smith, Esquire, of Law
Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888)
638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
Copyright Business Wire 2014