| COMPANY |
Aegean Marine Petroleum Network Inc. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
18-cv-04993 |
| JUDGE |
The Hon. Naomi Reice Buchwald |
| CLASS PERIOD |
February 27, 2014 - November 5, 2018 |
| SECURITY TYPE |
All Securities |
Case Background:
On June 05, 2018, the initial complaint in this securities class action was filed against Aegean Marine Petroleum Network Inc. (“Aegean” or the “Company”), 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 alleged that throughout the class period, the defendants made false and/or misleading statements and/or failed to disclose that: (i) Aegean had improperly accounted for an approximate $200 million of accounts receivable as of December 31, 2017; (ii) Aegean failed to maintain effective internal control over financial reporting; and (iii) as a result of the foregoing, the defendants' statements about the Company's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
This securities class action lawsuit was brought on behalf of investors who purchased or otherwise acquired Aegean securities between February 27, 2014 and November 5, 2018, inclusive.
Current Status of Case:
On June 1, 2023, the Court issued an Order granting Preliminary Approval of Class Action Settlement and scheduled a Final Settlement Hearing for October 19, 2023. This action remains ongoing.
The deadline to file a claim is 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. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.