NEW ORLEANS, Oct. 20, 2019 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with losses in excess of $100,000 that they have only 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 by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by October 21, 2019.
About the Lawsuit
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 former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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