Case Page

 

Case Status:    ONGOING    
On or around 11/19/2018 (Ongoing date of last review)

Filing Date: June 05, 2018

According to the Complaint, Aegean Marine Petroleum Network Inc. ("Aegean") is a marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to vessels in port, at sea, and on rivers. Aegean procures marine fuel from refineries, major oil producers, and other sources along with reselling and delivering these fuels from its bunkering vessels to end users.

The Complaint alleges that throughout the Class Period, 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, Defendants’ statements about Aegean’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On October 30, 2018, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. The consolidated cases shall be captioned "In re Aegean Marine Petroleum Network Inc. Securities Litigation."

On November 15, 2018, the Company issuer filed a Notice of Suggestion of Bankruptcy.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil & Gas - Integrated
Headquarters: Greece

SECURITIES INFORMATION:

Ticker Symbol: ANW
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 18-CV-04993
JUDGE: Hon. Naomi Reice Buchwald
DATE FILED: 06/05/2018
CLASS PERIOD START: 04/28/2016
CLASS PERIOD END: 06/04/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky, LLP
    30 Broad Street, 15 1h Floor, Levi & Korsinsky, LLP, NY 10004
    212.363.7500 212.363-7171 ·
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available