Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Baker Hughes Company on behalf of Baker Hughes stockholders concerning whether Baker Hughes has violated the federal securities laws and/or engaged in other unlawful business practices.

On February 25, 2021, Baker Hughes filed its annual report with the SEC. In the report, Baker Hughes revealed that, in December of 2020, the SEC had notified Baker Hughes of an investigation into the Company “related to its books and records and internal controls regarding sales of its products and services in projects impacted by U.S. sanctions.” Baker Hughes also revealed that it had also initiated an internal review “regarding internal controls and compliance related to U.S. sanctions requirements.”

On this news, Baker Hughes share prices fell by $0.25 to close at $24.48 on February 26, 2021. Over the next several trading days, the price dropped as low as $23.00 per share on March 4, 2021.

KeyFacts Energy Industry Directory: Baker Hughes