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Investigation announced for Investors in shares of Kirby Corporation (NYSE: KEX)

07-21-2020 08:48 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Kirby Corporation (NYSE: KEX) shares over potential securities laws violations by Kirby Corp.

An investigation for investors in Kirby Corporation (NYSE: KEX) shares over potential securities laws violations by Kirby Corp.

An investigation was announced concerning potential securities laws violations by Kirby Corporation in connection with certain financial statements.

Investors who purchased shares of Kirby Corporation (NYSE: KEX), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Kirby Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Houston, TX based Kirby Corporation operates domestic tank barges in the United States.

On July 8, 2020, Kirby Corporation announced that, for the first quarter ended March 31, 2020, it had understated non-cash non-recurring goodwill impairment charges by $127,933,000 before taxes, $98,773,000 after taxes, or a $1.65 loss per share, due to not applying a specific provision of a new accounting standard that the Company had recently adopted on January 1, 2020.

Shares of Kirby Corporation (NYSE: KEX) declined from $62.66 per share on June 5, 2020, to as low as $44.65 per share on July 13, 2020.

Those who purchased shares of Kirby Corporation (NYSE: KEX) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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