INVESTOR ALERT: Law Offices of Howard G. Smith Commences Investigation on Behalf of Petrofac Ltd. Investors

BENSALEM, Pa.--()--Law Offices of Howard G. Smith announces an investigation on behalf of Petrofac Ltd. (“Petrofac” or the “Company”) (OTC: POFCY) investors concerning the Company and its officers’ possible violations of federal securities laws.

On May 25, 2017, Petrofac suspended its chief operating officer Marwan Chedid after a U.K. prosecutor said the Company hasn’t cooperated with a bribery probe. The Company has also brought on a “senior external specialist” and set up a new committee to oversee the response to the bribery investigation. The Company also disclosed that Petrofac CEO Ayman Asfari and COO Marwan Chedid were arrested, questioned and released without being charged in connection with alleged bribes paid to secure lucrative contracts.

On this news, shares of Petrofac fell sharply, over 30%, during intraday trading on May 25, 2017.

If you purchased Petrofac securities, have information or would like to learn more about these claims, or 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.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

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INVESTOR ALERT: Law Offices of Howard G. Smith Commences Investigation on Behalf of Petrofac Ltd. Investors

Law Offices of Howard G. Smith