Aegean Shareholder Alert: Bernstein Liebhard LLP Announces Investigation Of Aegean Marine Petroleum Network Inc. - ANW

NEW YORK, June 5, 2018 /PRNewswire/ -- Bernstein Liebhard LLP is investigating potential securities fraud claims on behalf of shareholders of Aegean Marine Petroleum Network Inc. ("Aegean" or the "Company") (NYSE: ANW). If you purchased Aegean securities, and/or have information relating to this matter, please visit our AEGEAN SHAREHOLDER PAGE or contact Daniel Sadeh toll free at (877) 779-1414 or [email protected].

On June 4, 2018, during aftermarket hours, Aegean revealed "that approximately $200 million of accounts receivable owed to the Company at December 31, 2017 will need to be written off," as "[t]he transactions that gave rise to the accounts receivable ("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 further revealed that "[a] number of individuals employed by the Company across multiple functions who are believed to have been involved in the Transactions have been terminated or placed on administrative leave pending the outcome of [an] investigation. The Company has reported its preliminary findings to the SEC and the Department of Justice and intends to cooperate with any resulting investigations."

On this news, Aegean's stock fell sharply during intraday trading on June 5, 2018.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.

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Contact Information
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
[email protected]

SOURCE Bernstein Liebhard LLP

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