| Company: | Hornbeck Offshore Services, Inc. |
| Ticker Symbol: | NYSE: HOS |
| Class Period: | November 1, 2006 to January 10, 2007 |
| Date Filed: | Jan-19-07 |
| Lead Plaintiff Deadline: | Mar-19-07 |
| Court: | District, LA |
| Allegations: |
A lawsuit has been filed in the United States District Court for the District of Louisiana, on behalf of persons who purchased or otherwise acquired publicly traded securities of Hornbeck Offshore Services, Inc. ("Hornbeck" or the "Company") (NYSE:HOS) between November 1, 2006 and January 10, 2007, inclusive, (the "Class Period"). The lawsuit was filed against Hornbeck and certain officers and directors ("Defendants").
The complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that Defendants made certain false and misleading statements and omissions concerning the Company's operations and expected earnings for the fourth quarter of 2006.
On November 1, 2006, the Company reaffirmed its guidance for fiscal 2007 and specifically reaffirmed EBITDA guidance for the fourth quarter of 2006 to be in a range between $39 million and $41 million, with earnings per share to be between $0.69 and $0.74 per share. On November 6, 2006, the Company announced a $200 million offering of convertible senior notes. That deal closed on November 13, 2006. That same day the Company raised its EPS guidance to a range of $0.72 to $0.77 per share.
On January 10, 2007, the Company announced that it was revising its EBITDA and EPS guidance for the fourth quarter of 2006, reducing the range for EBITDA to between $33 million and $34 million, and lowering EPS to a range of $0.61 to $0.63 per share. Shares reacted negatively to the news, falling from $33.51 per share to $26.14 per share, a one-day decline of almost 22%.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that Defendants made certain false and misleading statements and omissions concerning the Company's operations and expected earnings for the fourth quarter of 2006.
On November 1, 2006, the Company reaffirmed its guidance for fiscal 2007 and specifically reaffirmed EBITDA guidance for the fourth quarter of 2006 to be in a range between $39 million and $41 million, with earnings per share to be between $0.69 and $0.74 per share. On November 6, 2006, the Company announced a $200 million offering of convertible senior notes. That deal closed on November 13, 2006. That same day the Company raised its EPS guidance to a range of $0.72 to $0.77 per share.
On January 10, 2007, the Company announced that it was revising its EBITDA and EPS guidance for the fourth quarter of 2006, reducing the range for EBITDA to between $33 million and $34 million, and lowering EPS to a range of $0.61 to $0.63 per share. Shares reacted negatively to the news, falling from $33.51 per share to $26.14 per share, a one-day decline of almost 22%.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
