The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Kirby Corporation ("Kirby" or "the Company") (NYSE: KEX) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Kirby disclosed on July 8, 2020, that it had understated non-cash non-recurring goodwill charges for the first quarter ended March 31, 2020. The Company admitted that the misstatement totaled $127,933,000 before taxes, $98,773,000 after taxes, or a $1.65 loss per share for the quarter. The Company blamed a failure to apply a provision of a new accounting standard adopted on January 1, 2020. Based on this news, shares of Kirby traded down sharply over the next several trading days.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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