Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against KLX, Inc. (KLXI) and Lead Plaintiff Deadline March 7, 2016

NEW YORK, Jan. 8, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, notifies investors of class action against KLX, Inc. ("KLX" or the "Company") (NASDAQ: KLXI).  The class action has been filed in the USDC for the Southern District of Florida on behalf of a class consisting of all persons or entities who purchased KLX, Inc. securities during the period between March 9, 2015 and November 11, 2015, inclusive (the "Class Period"). 

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").  

The complaint alleges that, throughout the class period, KLX and certain of its officers and/or directors violated the Securities and Exchange Act of 1934 by misrepresenting the value of the KLX's identifiable intangible assets and goodwill associated with their company's Energy Services Group ("ESG"), as well as its policies and methodology related to the calculation of risk, goodwill, and asset impairment.

On November 12, 2015, KLX disclosed that it would be forced to recognize an impairment charge of approximately $435 million related to its Energy Services Group. Following this news, KLX shares fell 16%, to a close of just $32.11 per share on November 11, 2015.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.  If you suffered a loss in KLX, Inc., you have until March 7, 2016, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]

SOURCE Bronstein, Gewirtz & Grossman, LLC

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