NEW YORK, NY / ACCESSWIRE / October 13, 2023 / Pomerantz LLP is investigating claims on behalf of investors of Expro Group Holdings N.V. ("Expro" or the "Company") (NYSE:XPRO). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 27, 2023, Expro issued a press release "report[ing] that on September 19, offshore Australia, an incident occurred in which the wire failed on the main crane of the third party-owned vessel working with Expro while the crane was suspending the subsea module (SSM) of Expro's vessel-deployed lightwell intervention (LWI) system. At the time of the failure, the SSM was suspended approximately 15 meters above the seabed. As a result of the wire failure, the SSM, associated umbilical lines, and the severed crane wire descended to the seabed." Following the incident, "Expro has suspended vessel-deployed LWI operations and is working with the relevant stakeholders and independent experts to assess the incident, and plan the recovery operation." ‘'
On this news, Expro's stock price fell $1.38 per share, or 5.57%, to close at $23.40 per share on September 28, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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