NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces it has commenced an investigation of Aegean Marine Petroleum Network Inc. (“Aegean Marine” or “the Company”) (NYSE: ANW) concerning possible violations of federal securities laws.
On May 22, 2018, Aegean Marine issued a Form 6-K announcing an internal review of its financial reporting. Then on June 4, 2018, Aegean Marine filed another Form 6-K announcing preliminary findings from the review, including that “approximately $200 million of accounts receivable at December 31, 2017 will need to be written off.” Per the 6-K, certain “transactions that gave rise to the accounts receivable… 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.” Following this news, shares of Aegean Marine were down 66.96% on intraday trading on June 5, 2018. To obtain additional information, go to:
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