EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against VAALCO Energy, Inc.
Rosen Law Firm, a global investor rights law firm, announces it is
investigating potential securities claims on behalf of shareholders of
VAALCO Energy, Inc. (NYSE:EGY) resulting from allegations that VAALCO
may have issued materially misleading business information to the
investing public.
On March 13, 2017, VAALCO disclosed after market closed “that as of
December 31, 2016 there is a material weakness related to the execution
of the control for the physical observation of equipment which is
performed annually to validate its existence.” VAALCO further disclosed
that “management determined that the effectiveness and timeliness of the
performance of controls related to the review of financial reports, the
review of account reconciliations and the evaluation and reporting of
significant and unusual transactions was not adequate to ensure that the
material weakness in internal control identified in 2015 had been fully
remediated.” On this news, shares of VAALCO fell $0.127 per share or
over 12% to close at $0.923 on March 14, 2017.
Rosen Law Firm is preparing a class action lawsuit to recover losses
suffered by VAALCO investors. If you purchased shares of VAALCO please
visit the firm’s website at http://www.rosenlegal.com/cases-1083.html
for more information. You may also contact Phillip Kim or Kevin Chan of
Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com
or kchan@rosenlegal.com.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm
or on Twitter: https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation.
Attorney Advertising. Prior results do not guarantee a similar outcome.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170314006497/en/
Copyright Business Wire 2017
Source: Business Wire
(March 14, 2017 - 6:23 PM EDT)
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