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ANW.US
id: 681

Aegean Marine Petroleum Network, Inc. (ANW) $12M Securities Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.
S.D. New York
Court
1:18-cv-04993
Case number
27 Feb 2014
Class period Start
05 Nov 2018
Class period End
20 Sept 2023
Claim deadline
Aegean Marine Petroleum Network (ANW) & Executives pay $11.95 million to investors to settle securities class action over allegations that:
  • Aegean had improperly accounted for approximately $200 million of accounts receivable as of December 31, 2017;
  • Aegean failed to maintain effective internal control over financial reporting;
  • as a result of the foregoing, the statements about Aegean's business, operations, and prospects, were false and misleading and lacked a reasonable basis.
Eligibility:
All persons who purchased Aegean Marine Petroleum Network, Inc. Securities During The Period Beginning February 27, 2014, Through November 5, 2018, may be entitled to a payout.
The securities subject to the Individual Defendants Settlements:
  1. the common stock of Aegean (Ticker: ANWWQ; CINS: Y0017S102) (pre-bankruptcy Aegean traded under the ticker “ANW”);
  2. Aegean 4.00% Convertible Unsecured Senior Notes due 11/1/2018 issued 10/23/2013 (the “4.00% Notes”) (CUSIP: Y0020QAA9; ISIN: USY0020QAA95);
  3. Aegean 4.25% Convertible Unsecured Senior Notes due 12/15/2021 issued 12/19/2016 (the “4.25% Notes”) (CUSIP: 00773VAA4 (CUSIP changed to 00773VAB2 on 2/12/2018); ISIN: US00773VAB27);
  4. Aegean call options; and
  5. Aegean put options.
Alleged Offence
Financial Misrepresentation
Failure to Disclose
Negligence
Omissions
Suspected Party
Directors
Management
Service Provider
Other
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.15
Filing date
05 June 2018
Plaintiffs
Utah Retirement Systems
Attorneys
Berman Tabacco
Defendants
Spyros Gianniotis, Dimitris Melissanidis
Judge
Hon. Naomi Reice Buchwald
Administrator
A.B. Data Ltd
Court hearing date
19 October 2023
Exclusion deadline
28 September 2023
Objection deadline
28 September 2023
Hearing deadline
28 September 2023
+$11,949,999
Total Settlement Amount

Aegean Marine Petroleum Network Inc.

Aegean Marine Petroleum Network Inc., together with its subsidiaries, operates as a marine fuel logistics company that markets and supplies refined marine fuel and lubricants to vessels in port, at...

    Ticker
    ANW.US
    ISIN
    USY0017S1025
    Sector
    Other
    Industry
    Other
    Country
    USA
    Address
    Address50 Rue du Rhône Geneva, 1204, Switzerland