Aegean Marine Petroleum Network Inc

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Case Summary
Company Name: Aegean Marine Petroleum Network Inc
Stock Symbol : NYSE: ANW
Class Period Start: 04/28/2016
Class Period End: 06/04/2018
Lead Plaintiff motion: 08/06/2018
Date Filed: 06/05/2018
Type of Case: Securities Class Action
Court: U.S. District Court for the Southern District of New York
Summary:

Thieler Law Corp advises investors with losses exceeding $100,000 of the August 6, 2018 lead plaintiff deadline in a class action lawsuit filed against Aegean Marine Petroleum Network Inc (NYSE: ANW) (“Aegean” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Aegean Marine Petroleum Network Inc securities between April 28, 2016 and June 4, 2018, have until August 6, 2018 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Aegean Marine Petroleum Network Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Aegean had improperly accounted for an approximate $200 million of accounts receivable as of December 31, 2017; Aegean failed to maintain effective internal control over financial reporting; and as a result of the foregoing, Defendants statements about Aegean’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On June 4, 2018, the Company revealed, after an internal review, that Aegean’s Audit Committee “believes that approximately $200 million of accounts receivable at December 31, 2017 will need to be written off” because certain 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.”

Following this news, NYSE: ANW fell more than 70% on June 5, 2018, thereby injuring investors.

If you were negatively impacted by your investment in Aegean Marine Petroleum Network Inc securities between April 28, 2016 and June 4, 2018 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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