WeissLaw LLP Announces A Lawsuit Against Aegean Marine Petroleum Network, Inc.

NEW YORK, July 18, 2018 /PRNewswire/ -- WeissLaw LLP, a national class action and shareholders' rights law firm with offices in New York, Georgia, and Los Angeles, announces that a class action lawsuit has been filed on behalf of all persons or entities who purchased shares of Aegean Marine Petroleum Networks, Inc. ("ANW," or the "Company") (NYSE: ANW) securities between April 28, 2016 and June 4, 2018, both dates inclusive. 

On June 4, 2018, ANW issued a press release reporting that its Audit Committee found that "approximately $200 million of accounts receivable owed to the Company at December 31, 2017 will need to be written off."  The Company attributed this to improper accounting processes that were "in contravention to the [its] normal policies and procedures."  The following day, ANW shares plummeted from their June 4 opening price of $3.00 to $0.95 per ANW share.  

The complaint alleges that ANW failed to maintain effective internal controls over the Company's operations and financial reporting, resulting in the issuance of materially false and misleading financial statements.

If you are an ANW shareholder and wish to discuss this action, any questions concerning this notice, your rights or interests, please contact Joshua Rubin of WeissLaw LLP at 888.593.4771, or by e-mail at [email protected].  You must you must move the Court not later than August 6, 2018 to serve as lead plaintiff.

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients.  For more information about the firm, please go to: http://www.weisslawllp.com/aegean-marine-petroleum-inc/  

SOURCE WeissLaw LLP

Related Links

http://weisslawllp.com