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KBR SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against KBR, Inc. - KBR
Globenewswireยท 2025-09-23 02:34
Core Viewpoint - KBR, Inc. is facing a securities class action lawsuit for failing to disclose material information during the specified Class Period, which has resulted in significant stock price declines following negative news related to a joint venture with HomeSafe Alliance [3][4]. Summary by Sections Lawsuit Details - The lawsuit is titled Norrman v. KBR, Inc., et al., No. 25-cv-04464, and is pending in the United States District Court for the Southern District of Texas [5]. - Investors who purchased KBR securities between May 6, 2025, and June 19, 2025, have until November 18, 2025, to file lead plaintiff applications [1][2]. Stock Price Impact - On June 19, 2025, KBR's joint venture, HomeSafe, announced the termination of a significant contract with the U.S. Department of Defense, leading to a drop in KBR's stock price by $3.85, or 7.29%, closing at $48.93 on June 20, 2025 [4]. - The stock experienced further decline, falling an additional $1.30, or 2.65%, to close at $47.63 on June 23, 2025 [4]. Company Background - KBR, Inc. has a 72% economic interest in HomeSafe Alliance, which was awarded a contract in 2021 to improve the military move system [4]. - Kahn Swick & Foti, LLC (KSF) is a prominent law firm specializing in securities litigation, representing various investors seeking recoveries for losses due to corporate fraud [5].