NEW YORK, Aug. 11, 2016 /PRNewswire/ -- The law firm Gardy & Notis, LLP filed a class action lawsuit today in the United States District Court for the District of Colorado, Case No. 1:16-cv-2037, on behalf of stockholders who purchased common stock of Warren Resources, Inc. (NASDAQ: WRES) between a November 4, 2014 to June 2, 2016 class period.
The lawsuit alleges that certain of Warren's executive officers violated Sections 10(b) and 20(a) of the Securities Exchange Act by making materially misleading misrepresentations and omissions that Warren was "well positioned" to "ride out" and "successfully navigate" the "market fluctuations," when, in fact, Warren was becoming increasingly insolvent. Warren filed for Chapter 11 bankruptcy on June 2, 2016.
Plaintiff seeks to recover money damages on behalf of all purchasers of Warren common stock during the November 4, 2014 to June 2, 2016 class period. The plaintiff is represented by Gardy & Notis, LLP, which has extensive experience in successfully prosecuting investor class actions.
If you purchased Warren common stock between November 4, 2014 and June 2, 2016, and you wish to serve as lead plaintiff, you may move the Court no later than 60 days from today (no later than October 10, 2016). Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed class.
To learn more about the lawsuit or to obtain a copy of the complaint, please contact plaintiff's counsel, James S. Notis or Jennifer Sarnelli at Gardy & Notis, LLP, 126 East 56th Street, New York, NY 10022, Telephone: 212-905-0509, Fax: 212-905-0508, email: firstname.lastname@example.org or email@example.com.
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SOURCE Gardy & Notis, LLP