An investigation on behalf of investors of Harsco Corporation (NYSE: HSC) shares over potential securities laws violations by Harsco Corporation and certain of its directors and officers in connection with certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Harsco Corporation (NYSE: HSC) concerning whether a series of statements by Harsco Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Camp Hill, PA based Harsco Corporation provides environmental solutions and services in North America, Western Europe, Latin America, the Asia Pacific, the Middle East, Africa, and Eastern Europe. Harsco Corporation reported that its annual Total Revenue rose from $1.6 billion in 2017 to $17.2 billion in 2018 and that its Net Income increased from $7.82 million in 2017 to $137.05 million in 2018.
On January 23, 2020, Harsco Corporation announced preliminary financial results for the fourth quarter of 2019. The Company currently expects adjusted operating income to be approximately $31 million. This adjusted operating income compares with the Company's guidance for the quarter of between $53 million and $58 million.
Shares of Harsco Corporation (NYSE: HSC) declined from $23.44 per share on January 2, 2020, to as low as $14.20 per share on January 28, 2020.