The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Aegean Marine Petroleum Network Inc. (''Aegean Marine” or ''the Company'') (NYSE: ANW) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between April 26, 2016 and June 4, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before August 6, 2018.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, Aegean Marine made false and misleading statements to the marketplace. On May 22, 2018, Aegean Marine announced it would undertake a review of its financial reporting. On June 4, 2018, the Company released its initial findings of the review, announcing that, "approximately $200 million of accounts receivable at December 31, 2017 will need to be written off." The Company added, “transactions that gave rise to the accounts receivable … may have been, in full or in part, without economic substance and improperly accounted for in contravention of the Company's normal policies and procedures." As a result, the Company’s financial statements were materially false and misleading throughout the class period and did not accurately reflect the results of business operations and the financial health of Aegean Marine. According to the lawsuit, when accurate information about Aegean Marine became apparent in the market, investors suffered damages.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20180806005525/en/
Contacts:
Brian Schall, Esq.,
Sherin Mahdavian, Esq.,
www.schallfirm.com
310-301-3335
info@schallfirm.com
