AEGEAN MARINE SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Aegean Marine Petroleum Network Inc. - ANW
NEW ORLEANS and LOS ANGELES, June 15, 2018 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilAugust 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.
What You May Do
If you purchased shares of Aegean and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-anw/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 6, 2018.
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.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.