AEGEAN MARINE PETROLEUM NETWORK INC. INVESTOR ALERT: Girard Gibbs Announces Investigation on Behalf of ANW Investors
Jun. 05, 2018
SAN FRANCISCO--(BUSINESS WIRE)--Jun 5, 2018--Girard Gibbs LLP is investigating claims on behalf of investors of Aegean Marine Petroleum Network (NYSE: ANW) involving possible securities law violations.
After the close of trading on June 4, 2018, Aegean Marine announced that an independent Audit Committee found that approximately $200 million of accounts receivable owed to the company will need to be written off. The Company further stated that the transactions “may have been, in full or in part, without economic substance and improperly accounted for in contravention of the Company’s normal policies and procedures.”
Aegean Marine also reported that a number of its employees who are believed to have been involved in the Transactions have been terminated or placed on administrative leave, and that the Company has reported its preliminary findings to the SEC and the Department of Justice.
Following this news, shares of ANW fell more than 70% on June 5, 2018, thereby injuring investors.
If you purchased or acquired ANW and would like to speak privately with a securities attorney to learn more about the investigation or your legal rights as an investor, please visit our or contact the securities team directly at (800) 254-9493.
About Girard Gibbs
Girard Gibbs is a national litigation firm representing investors, businesses, municipalities and unions in class and individual actions in state and federal courts throughout the country. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have been honored for the quality of their work and legal achievements with recognition in the list for five consecutive years.
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CONTACT: Girard Gibbs LLP
Eileen Epstein, 510-350-9728
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Girard Gibbs LLP
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PUB: 06/05/2018 06:47 PM/DISC: 06/05/2018 06:47 PM