Hagens Berman LLP Continues to Investigate Hercules Offshore Inc. After SEC Probe Announcement

Hagens Berman LLP, an investor-rights law firm, is continuing to investigate Hercules Offshore to determine if the company violated securities laws. The investigation began after the announcement of a Securities and Exchange Commission (SEC) and Department of Justice investigation of certain of the company’s activities.

Hagens Berman partner Reed R. Kathrein is continuing to lead the firm’s investigation from its San Francisco office.

Houston-based Hercules Offshore provides services, including exploration and drilling, to the oil and gas industry and operates a fleet of offshore lifeboats.

On Thursday, April 7, 2011, the company announced that it had received a subpoena from the SEC that said it is under investigation by the Department of Justice (DOJ) and the SEC for possible violations of securities laws, specifically the Foreign Corrupt Practices Act.

“Foreign Corrupt Practices Act investigations are serious,” said Kathrein. “The real question here is how much did top management know.”

According to media reports, after Hercules revealed the SEC and DOJ investigations on April 7, 2011, the stock price for the company fell more than 10 percent to $5.68 in after-hours trading.

Investors who purchased the stock before April 7, 2011, and who incurred significant losses may wish to speak with attorney Mr. Kathrein at 510-725-3000 or can fill out the online form available here.

The firm is also interested to speak with witnesses who may have more information about these claims. To learn more, additional information is available at www.hbsslaw.com/HERO.