BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it has commenced an investigation on behalf of Aegean Marine Petroleum Network Inc. (“Aegean” or the “Company") (NYSE: ANW) investors concerning the Company and its officers’ possible violations of federal securities laws.
On June 4, 2018, Aegean announced, following an internal review, that the Company’s Audit Committee “believes that approximately $200 million of accounts receivable at December 31, 2017 will need to be written off” because certain transactions “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.”
On this news, Aegean’s share price fell more than 70% on June 5, 2018, thereby injuring investors.
If you purchased Aegean securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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