DEADLINE ALERT: Brower Piven Alerts Shareholders Of Upcoming Deadline In Class Action Lawsuit And Urges Those With Losses In Excess of $100,000 From Investment In Northern Oil and Gas, Inc. To Contact The Firm
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been commenced in
the United States District Court for the Southern District of New York
on behalf of purchasers of Northern Oil and Gas, Inc. (NYSE MKT: NOG)
(“Northern Oil” or the “Company”) securities during the period between
March 1, 2013 and August 15, 2016, inclusive (the “Class Period”).
Investors who wish to become proactively involved in the litigation have
until October 17, 2016 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must
apply to be appointed lead plaintiff and be selected by the Court. The
lead plaintiff will direct the litigation and participate in important
decisions including whether to accept a settlement for the Class in the
action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in Northern Oil securities
during the Class Period. Members of the Class will be represented by the
lead plaintiff and counsel chosen by the lead plaintiff. No class has
yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the defendants’ failure to disclose
during the Class Period that Northern Oil’s compliance policies with
respect to U.S. Securities and Exchange Commission (“SEC”) regulations
and the Company’s Code of Business Conduct and Ethics were inadequate to
detect and/or prevent misconduct by the Company’s officers and, as a
result, the Company’s Chief Executive Officer (“CEO”) was able to engage
in illegal stock manipulation during his tenure with the Company.
According to the complaint, following an August 16, 2016 announcement by
the Company that the CEO was fired after he told the Company that he had
received a Wells Notice from the SEC and faced federal sanctions in
connection with the SEC’s investigation of 2012 trading patterns in the
securities of Dakota Plains Holdings, Inc., a company in which the CEO
initially invested in 2008, the value of Northern Oil shares declined
significantly.
If you have suffered a loss in excess of $100,000 from investment in
Northern Oil securities purchased on or after March 1, 2013 and held
through the revelation of negative information during and/or at the end
of the Class Period and would like to learn more about this lawsuit and
your ability to participate as a lead plaintiff, without cost or
obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616. Brower Piven also encourages
anyone with information regarding the Company’s conduct during the
period in question to contact the firm, including whistleblowers, former
employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s. If you choose to retain counsel,
you may retain Brower Piven without financial obligation or cost to you,
or you may retain other counsel of your choice. You need take no action
at this time to be a member of the class.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160922006347/en/
Copyright Business Wire 2016
Source: Business Wire
(September 22, 2016 - 5:37 PM EDT)
News by QuoteMedia
www.quotemedia.com