NEW YORK, NY / ACCESSWIRE / September 16, 2019 / Pomerantz LLP is investigating claims on behalf of investors of SAExploration Holdings, Inc. (“SAExploration” or the “Company”) (SAEX). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether SAExploration and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 15, 2019, SAExploration issued a press release announcing that the U.S. Securities and Exchange Commission was investigating the Company in connection with certain accounting matters that arose in 2015-2016. SAExploration also announced that it would restate its previously issued financial statements for fiscal years 2015-2018 and delay filing its quarterly report for the quarter ended June 30, 2019. SAExploration further announced that Jeff Hastings, the Company’s Chief Executive Officer, had been placed on administrative leave and resigned from his role as Chairman of the Company, and that Brent Whiteley, the Company’s Chief Financial Officer, had been terminated.
On this news, SAExploration’s stock price fell $1.13 per share, or over 34%, to close at $2.14 per share on August 16, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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 80 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.
SOURCE: Pomerantz LLP
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