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

[July 18, 2014]

SHAREHOLDER ALERT: Investigation on Behalf of Key Energy Services, 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 Key Energy Services, Inc. ("Key Energy" or the "Company") (NYSE:KEG). The investigation concerns possible violations of federal securities laws and focuses on certain statements issued by the Company concerning Key Energy's business and financial performance.

Key Energy operates as an onshore well servicing contractor in the United States and internationally, offering rig-based services including completion of newly-drilled wells, workover and recompletion of existing wells, well maintenance, plugging and specialty drilling ervices to oil and natural gas producers. The investigation is related to the Company's July 17, 2014, announcement that Key Energy expects to report a second quarter 2014 loss in the range of $0.35 to $0.38 per share, and will record a $30-$35 million pre-tax charge for goodwill and other asset impairments, related to the Company's operations in Russia. The Company also reported that pre-tax expenses of approximately $5 million were incurred in connection with previously disclosed Foreign Corrupt Practices Act investigations. Following this news, Key Energy shares dropped more than 16 percent below the previous day's closing price, or $1.34 per share.


In a May 6, 2014, regulatory filing, the Company disclosed that the Securities and Exchange Commission "has advised us that it is investigating possible violations of the U.S. Foreign Corrupt Practices Act involving business activities of Key's operations in Russia."

If you purchased Key Energy shares, 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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