Loading, Please Wait...
SAN FRANCISCO, Oct. 16, 2019 (GLOBE NEWSWIRE) -- Hagens Berman notifies investors in SAExploration Holdings, Inc. (NASDAQ: SAEX) of tomorrow’s October 17, 2019 lead plaintiff deadline to move for lead plaintiff in a federal securities class action against the company and urges SAEX investors who have suffered losses in excess of $50,000 to contact the firm.
SAEX Securities Class Action:
The Complaint alleges that Defendants misled investors by concealing violations of accounting rules that required them to consolidate a controlled entity’s financial statements with the Company’s.
On August 15, 2015, Defendants disclosed: (i) the existence of SEC and internal investigations into the Company’s financial reporting; (ii) the need for SAEX to restate all of its financial statements covering 2015 through 2018; (iii) CEO Jeffrey Hastings had been placed on administrative leave; and (iv) CFO and General Counsel Brent Whiteley had been fired.
Since the filing of the complaint, SAEX has defaulted on certain debt agreements arising from the pending financial restatements.
Whistleblowers: Persons with non-public information regarding SAEX should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email SAEX@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000