MURRAY, FRANK & SAILER LLP is investigating potential securities fraud claims against Hercules Offshore Inc. ("Hercules" or the "Company") (NASDAQ: HERO) and certain of its officers and directors, on behalf of shareholders of Hercules securities.
The investigation concerns violations of the Foreign Corrupt Practices Act ("FCPA") and the Securities Exchange Act of 1934 (the "Exchange Act"), which allegedly occurred when Hercules failed to disclose certain material information about its business practices to shareholders.
On April 7, 2011, Hercules disclosed that it received a subpoena issued by the Securities and Exchange Commission ("SEC") on April 4, 2011 in connection with the SEC's investigation into possible violations of securities laws, including possible violations of the FCPA and the Exchange Act. Hercules also reported that it had been notified by the Department of Justice ("DOJ") on April 5, 2011, that certain of the Company's activities are under review by the DOJ. In response to this news, Hercules' stock price dropped approximately 16%, or more than $0.89 per share, from opening of $6.48 per share on April 7, 2011, to opening of $5.59 per share on April 8, 2011.
If you are a shareholder of Hercules securities and wish to discuss this litigation, or have any questions concerning this notice or your rights or interests with respect to these matters, please contact us.
MURRAY, FRANK & SAILER LLP