The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been commenced in
the United States District Court for the Southern District of New York
on behalf of purchasers of Aegean Marine Petroleum Network Inc. (NYSE:
ANW) (“Aegean” or the “Company”) securities during the period between
April 28, 2016 and June 4, 2018, inclusive (the “Class Period”).
Investors who wish to become proactively involved in the litigation have
until August 6, 2018 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the class, you must
apply to be appointed lead plaintiff and be selected by the Court. The
lead plaintiff will direct the litigation and participate in important
decisions including whether to accept a settlement for the class in the
action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in Aegean securities during
the Class Period. Members of the class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff. No class has yet
been certified in the above action.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the defendants’ failure to disclose
during the Class Period that Aegean had improperly accounted for
approximately $200 million of accounts receivable as of December 31,
2017, and it failed to maintain effective internal control over
According to the complaint, following a June 4, 2018 announcement that
approximately $200 million of accounts receivable owed to the Company as
of December 31, 2017 would need to be written off, the value of Aegean
shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in
Aegean securities purchased on or after April 28, 2016 and held through
the revelation of negative information during and/or at the end of the
Class Period and would like to learn more about this lawsuit and your
ability to participate as a lead plaintiff, without cost or obligation
to you, please contact Brower Piven either by email at email@example.com
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s. If you choose to retain counsel,
you may retain Brower Piven without financial obligation or cost to you,
or you may retain other counsel of your choice. You need take no action
at this time to be a member of the class.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180617005001/en/