We represented Francis D. John, former CEO of Key Energy Services, Inc., in a consolidated nationwide federal securities class action arising out of restatement of multiple years’ 10-K’s and 10-Q’s during Mr. John’s tenure. Other named Defendants were Key Energy Services, Inc., the company’s chief financial officer, chief operating officer, and successor chief executive officer. In 2008, the consolidated class action, along with various related shareholder derivative actions, were resolved pursuant to a global settlement for a combined $16.625 million, which was less than one-third of D&O insurance policy limits and required no contribution by Mr. John.
