San Diego, CA -- (SBWIRE) -- 06/25/2012 -- An investigation on behalf of investors in NYSE:PKD shares was announced over potential breaches of fiduciary duties by certain members of the board of directors at Parker Drilling Company (NYSE:PKD. in connection with certain financial statements.
Investors who purchased shares of Parker Drilling Company (NYSE:PKD), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns on whether certain officers and directors at Parker Drilling Company (NYSE:PKD breached their fiduciary duties. Specifically, the investigation focuses whether certain statements about Parker Drilling’s business, its prospects and its operations were potentially materially false and misleading at the time they were made.
Parker Drilling Company reported that its annual Revenue declined from $829.84million in 2008 to $686.65million in 2001 and its Net Income of $22.73million for ’08 turned in 2011 to a Net Loss of $50.45million.
Shares of Parker Drilling Company (NYSE:PKD) rose from $1.40 per share in February 2009 to as high as $7.38 per share in January 2012.
However, over the first half of 2012 NYSE:PKD shares lost substantially in value and closed on June 22, 2012 at $4.45 per share, more than 40% less its current 52week High.
Those who purchased shares of Parker Drilling Company (NYSE:PKD), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego