Robbins Arroyo LLP Is Investigating the Officers and Directors of Swift Energy Co. (SFY) on Behalf of Shareholders
SAN DIEGO and HOUSTON, Nov. 13, 2014 /PRNewswire/ -- Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Swift Energy Co. (NYSE: SFY) breached their fiduciary duties to shareholders. Swift Energy acquires, explores, develops and operates oil and natural gas properties.
View this press release on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/swift-energy
Swift Energy Will Restate Quarterly Earnings
On November 11, 2014, Swift Energy announced that it would be restating financial results contained in its quarterly and annual report ending December 31, 2013, March 31, 2014, and June 30, 2014. These restatements come after an error was found in the model used to determine historical ceiling test write-downs, which include the tax effect of asset retirement obligations. The correction of the ceiling-test-error is expected to decrease net income for each quarter of 2014 by an estimated $500,000.
Swift Energy Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, [email protected], or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
600 B Street, Suite 1900
San Diego, Ca 92101
[email protected]
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
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SOURCE Robbins Arroyo LLP
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