Michael Baker Corp. Securities Fraud Lawyers
The lawyers and attorneys at our firm are offering free consultation to victims of Michael Baker Corp. securities fraud. On February 22, 2008, Michael Baker, Inc. announced that it would be restating its previously issued financial statements for the first, second and third quarters of 2007, because of "errors" in those financial statements. Following the February 22, 2008 announcement, Michael Baker, Inc. stock fell nearly 24 percent.
If you or someone you know suffered a financial loss as a result of these actions, you may be entitled to compensation. We urge you to contact one of our Michael Baker securities fraud lawyers as soon as possible to discuss your legal rights.
As a result of the 2007 restatement, Michael Baker's previously reported net income of $18.0 million for the first nine months of 2007 was materially overstated by as much as $12.5 million. The Company also disclosed that it was still evaluating whether the false financial reporting would impact its previously issued audited consolidated financial statements for the year 2006.
The Company said the accumulated pretax affect of the errors might entirely offset the energy segment's reported income from operations before corporate overhead for the first three quarters of 2007. The company said its audit committee would initiate an independent investigation.
The Michael Baker securities fraud lawyers at our firm are investigating allegations that certain of the Company's officers and directors made a series of materially false and misleading statements related to the Company's business and operations in violation of the Securities Exchange Act of 1934.
Legal Help for Victims of Michael Baker Securities Fraud
If you are a Michael Baker, Inc. shareholder who purchased or acquired shares between May 8, 2007 and February 22, 2008, you have valuable legal rights. Please contact one of the Michael Baker securities fraud lawyers at our firm by filling out our online form or calling 1-800-LAW INFO (1-800-529-4636).