Recent Security Class Actions

Aegean Marine Petroleum Network Inc. (NYSE: ANW)

Company Name:Aegean Marine Petroleum Network Inc.
Stock Symbol:NYSE: ANW
Class Period Start:02/27/2014
Class Period End (inclusive):11/05/2018

According to the Complaint, Aegean Marine Petroleum Network Inc. (“Aegean”) is a marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to vessels in port, at sea, and on rivers. Aegean procures marine fuel from refineries, major oil producers, and other sources along with reselling and delivering these fuels from its bunkering vessels to end users.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that (i) Aegean had improperly accounted for an approximate $200 million of accounts receivable as of December 31, 2017; (ii) Aegean failed to maintain effective internal control over financial reporting; and (iii) as a result of the foregoing, Defendants’ statements about Aegean’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.