SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky

January 14, 2016 11:16 ET

Levi & Korsinsky, LLP Notifies Shareholders of KLX Inc. of Class Action Lawsuit and a Lead Plaintiff Deadline of March 7, 2016 -- KLXI

NEW YORK, NY--(Marketwired - January 14, 2016) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of KLX Inc. ("KLX") between March 9, 2015 and November 11, 2015.  You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of Florida. To get more information go to:

http://zlk.9nl.com/klx-klxi

or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The complaint alleges that, throughout the class period, KLX and certain insiders violated the Securities and Exchange Act of 1934 by misrepresenting the value of the Company's identifiable intangible assets and goodwill associated with KLX's Energy Services Group ("ESG"), as well as its policies and methodology related to the calculation of risk, goodwill, and asset impairment.

On November 12, 2015, KLX disclosed that it expects to recognize an impairment charge of approximately $435 million related to ESG. Upon this news, shares of KLX fell 16% from a close of $39.00 per share on November 11, 2015, to a close of just $32.11 per share.

If you suffered a loss in KLX you have until March 7, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT: 
    Levi & Korsinsky, LLP
    Joseph E. Levi, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004 
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com