Case Background:
This is a federal securities fraud class action lawsuit on behalf of all persons and entities that purchased or otherwise acquired Aegean Marine Petroleum Network Inc. (“Aegean”) securities between February 27, 2014 and November 5, 2018, both dates inclusive (the “Class Period”). On June 05, 2018, the initial complaint in this securities class action was filed against Aegean and certain of Aegean’s directors, officers and auditors, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act.
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Aegean had improperly accounted for an approximate $200 million of accounts receivable as of December 31, 2017; (2) Aegean failed to maintain effective internal control over financial reporting; and (3) as a result of the foregoing, Defendants' statements about the company's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Current Status of Case:
On October 19, 2023, the Court granted Final Approval of the Class Action Settlement. This action has concluded.
The deadline to file a claim was September 20, 2023. You may find additional information regarding the terms of the settlement and claim filing process at http://www.aegeansecuritieslitigation.com/ or by calling the claims administrator, AB Data, Ltd. at 1-877-888-9760.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com.