NEW YORK, April 29, 2016 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Exterran Corporation ("Exterran" or the "Company") (NYSE:EXTN).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose appropriately prepared financial statement for 2015.
Specifically, on April 26, 2016, Exterran announced a delay in its first quarter 2016 Form 10-Q filing, 2015 because of material errors and irregularities regarding certain contracts and items related to its subsidiary, Belleli Energy, during fiscal 2015. The Company stated that its financial and accounting statements for 2015 should no longer be relied upon until amended reports are filed.
Since Exterran completed its spin-off from Exterran Holdings, Inc. on November 4, 2015 , Exterran's stock has fallen from its first day trading high of $18.20 per share to a closing price of $15.01 per share on April 27, 2016—a $3.19 per share fall or 17.5%.
If you invested in Exterran stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/EXTN1. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding Exterran's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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