NEW YORK, June 25, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of CAMAC Energy, Inc. ("CAMAC Energy" or the "Company") (NYSE MKT: CAK). Investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether CAMAC Energy and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On June 25, 2014, CAMAC Energy announced in a Securities and Exchange Commission, (SEC) Form 8-K filing that "on June 19, 2014, the management of CAMAC Energy Inc. (the "Company") concluded that the Company's unaudited financial statements included in its quarterly report on Form 10-Q for the first quarter of 2014 (the "First Quarter 10-Q") contained errors. On June 24, 2014, the Company's audit committee and management concluded that the unaudited financial statements contained in the First Quarter 10-Q should no longer be relied upon because of these errors and that the Company should amend the First Quarter 10-Q and restate the unaudited financial statements contained therein."
As a result of this news, CAMAC Energy's shares fell nearly 4% on June 25 in after-hours trading.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
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