BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces that investors of Harvest Natural Resources, Inc. (“Harvest” or the “Company”) (HNR) have until May 21, 2013 to move the Court to serve as lead plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Southern District of Texas on behalf of a class (the “Class”) comprising all purchasers of Harvest securities between May 7, 2010 and March 18, 2013, inclusive (the “Class Period”). Harvest, an independent energy company, engages in the acquisition, exploration, development, production and disposition of oil and natural gas properties.
The Complaint alleges that throughout the Class Period defendants made false and/or misleading statements or failed to disclose material adverse facts about the Company's financial performance and prospects. Specifically, defendants misrepresented or failed to disclose that: (1) the Company incorrectly capitalized certain lease maintenance costs and certain internal selling, general and administrative costs; (2) the Company improperly presented certain cash flow items and caused certain long-lived assets to be impaired; (3) the Company was unable to sell its interests in Petrodelta S.A. to PT Pertamina (Persero); (4) the Company lacked adequate internal and financial controls; and (5) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.
If you are a member of the Class described above, you have certain rights and have until May 21, 2013 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, or may retain counsel of your choice. If you wish to discuss this action or learn more concerning 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 email@example.com, or visit our website at http://www.howardsmithlaw.com.