NEW YORK, April 26, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Exterran Corp. ("Exterran" or the "Company") (NYSE: EXTN). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Exterran and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On November 4, 2015, Exterran completed its spin-off from Exterran Holdings, Inc. into an independent, publicly traded company, and began "regular way" trading on the NYSE opening at $18.00 per share. On April 26, 2016, in addition to delaying the filing of its first quarter 2016 Form 10-Q, Exterran announced that the Company is restating its financial statements for 2015 because of material errors and possible irregularities relating to the accounting for certain Belleli EPC contracts, and that the financial statements for 2015 and the related independent accounting firm report should no longer be relied upon. Since the spin-off, Exterran's stock has fallen sharply from its first day trading high of $18.20 per share.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP