SAN FRANCISCO--(BUSINESS WIRE)--Girard Gibbs LLP is investigating claims on behalf of investors of Aegean Marine Petroleum Network (NYSE: ANW) involving possible securities law violations.
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After the close of trading on June 4, 2018, Aegean Marine announced that an independent Audit Committee found that approximately $200 million of accounts receivable owed to the company will need to be written off. The Company further stated that the 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.”
Aegean Marine also reported that a number of its employees who are believed to have been involved in the Transactions have been terminated or placed on administrative leave, and that the Company has reported its preliminary findings to the SEC and the Department of Justice.
Following this news, shares of ANW fell more than 70% on June 5, 2018, thereby injuring investors.
If you purchased or acquired ANW and would like to speak privately with a securities attorney to learn more about the investigation or your legal rights as an investor, please visit our website or contact the securities team directly at (800) 254-9493.
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