SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Global Geophysical Services, Inc. - GGS

NEW YORK, March 19, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Global Geophysical Services, Inc. ("Global Geophysical" or the "Company") (NYSE: GGS) (CUSIP: 37946S107). Investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.

The investigation concerns whether Global Geophysical and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On March 17, 2014, the Company announced in a press release, that its financial statements and related auditors' reports for the fiscal years ended December 31, 2012, 2011, 2010, and 2009, and the first, second and third quarters of 2013 should no longer be relied upon because of accounting errors resulting from material weaknesses in the Company's internal controls.

Global Geophysical further announced that it would conduct a thorough review of its financial statements from the foregoing years, and restate its consolidated financial statements from 2011 onward, as well as selected financial data for the 2009 and 2010 fiscal years in its 2013 Annual Report on Form 10-K (2013 Annual Report).

On this news, shares of Global Geophysical fell $0.71 to $0.46, or more than 60.68%, on unusually heavy trading volume, on March 18, 2014. 

The Pomerantz Firm, with offices in New York, Chicago, San Diego, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected] 

SOURCE Pomerantz LLP