If you purchased or otherwise acquired VAALCO shares and would like more information regarding the investigation, we encourage you to click here, or contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights without cost to you. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at firstname.lastname@example.org.
On March 13, 2017, VAALCO revealed “that as of December 31, 2016 there is a material weakness related to the execution of the control for the physical observation of equipment which is performed annually to validate its existence.”
VAALCO also revealed “management determined that the effectiveness and timeliness of the performance of controls related to the review of financial reports, the review of account reconciliations and the evaluation and reporting of significant and unusual transactions was not adequate to ensure that the material weakness in internal control identified in 2015 had been fully remediated.”
When this information was revealed to investors, the value of VAALCO stock dropped, causing harm to investors.
If you have any questions concerning your legal rights, please immediately contact Goldberg Law PC at 800-977-7401, or visit our website at http://www.Goldberglawpc.com, or email us at email@example.com.
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