NEW ORLEANS, July 27, 2018 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until August 6, 2018 to file lead plaintiff applications in a securities class action lawsuit against Aegean Marine Petroleum Network Inc. (NYSE: ANW), if they purchased the Company’s shares between April 28, 2016, and June 4, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
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About the Lawsuit
Aegean and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On June 4, 2018, Aegean provided an update on its ongoing audit committee review, specifically that “approximately $200 million of accounts receivable owed to the Company at December 31, 2017 will need to be written off” and that “the Company cannot determine the full impact on the financial statements or how this adjustment will be recorded...there could be other adjustments that result from the Audit Committee’s review that could impact the financial statements.”
On this news, the price of Aegean’s shares plummeted.
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