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KMG Chemicals, Inc. (NYSE:KMG) Investor Investigation Over Potential Securities Laws Violations

  • If you purchased shares of KMG Chemicals, Inc. (NYSE:KMG), you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
KMG Chemicals, Inc.
Security
NYSE: KMG

Summary

November 11, 2013 (Shareholders Foundation) - An investigation on behalf of investors of KMG Chemicals, Inc. (NYSE:KMG) shares over potential securities laws violations by KMG Chemicals, Inc. and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of KMG Chemicals, Inc. (NYSE:KMG) concerning whether a series of statements by KMG Chemicals, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
KMG Chemicals, Inc. reported that its Total Revenue increased from $255.60 million for the 12 months period that ended on July 31, 2011 to $272.70 million for the 12 months period that ended on July 31, 2012 and that its respective Net Income increased from $9.73 million to $13.82 million.

Shares of KMG Chemicals, Inc. (NYSE:KMG) grew from $17.04 per share in late 2012 to as high as $23.76 per share on October 11, 2013.

Then on October 14, 2013, KMG Chemicals, Inc. provided its preliminary Fourth Quarter and Fiscal 2013 Financial Results. However, KMG Chemicals, Inc also announced that it will delay the full release of its fiscal fourth quarter and fiscal year 2013 financial results, and delay the conference call due to a need for additional time to fully and accurately address the complexities and accounting requirements arising from the acquisition of OM Groups Ultra Pure Chemicals (UPC) business.

Then on October 24, 2013, KMG Chemicals, Inc reported its fourth quarter and full year 2013 financial results.
KMG Chemicals, Inc. reported that its Total Revenue declined from $272.70 million for the 12 months period that eneded on July 31, 2012 to $263.31 million for the 12 months period that ended on July 31, 2013 and that its respective Net Income declined from $13.82 million to $9.35 million.

On October 31, 2013, KMG Chemicals, Inc announced that its Vice President and Chief Financial Officer resigned.

Shares of KMG Chemicals, Inc declined from $23.76 per share on October 11, 2013 to $19.01 per share on November 11, 2013.

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