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TMCNet:  SHAREHOLDER ALERT: Investigation on Behalf of KBR, Inc. Investors Announced by Law Offices of Howard G. Smith

[May 05, 2014]

SHAREHOLDER ALERT: Investigation on Behalf of KBR, Inc. Investors Announced by Law Offices of Howard G. Smith

BENSALEM, Pa. --(Business Wire)--

Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of KBR, Inc. ("KBR" or the "Company") (NYSE:KBR). The investigation concerns possible violations of federal securities laws, and focuses on certain statements issued by the Company concerning KBR's financial performance.

KBR operates as an engineering, construction and services company, supporting the energy, hydrocarbons, power, minerals, civil infrastructure, government services, industrial and commercial market segments. The investigation is related to the Companys May 5, 2014, announcement that the Audit Committee of the Company's Board of Directors has concluded that KBR`s previously issued consolidated financial statements for the year ended December 31, 2013, should no longer be relied upon and should be restated. KBR determined that the estimated costs to complete seven Canadian pipe fabrication and module assembly contracts that were awarded during 2012-2013 will result in pre-tax charges of more than $150 million, including the reversal of $23 million in previously recognized pre-tax profits and the recognition of approximately $135 million in pre-tax estimated losses at completion. According to the Company, "the majority of these losses should have been recognized in our consolidated financial statements for the year ended December 31, 2013."


If you purchased KBR shares prior to May 5, 2014, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.


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