World News: 20:00 GMT Saturday 12th October 2019. [Hagens Berman Sobol Shapiro LLP via Globe Newswire via SPi World News]
SAN FRANCISCO, Oct. 12, 2019 (GLOBE NEWSWIRE) -- Hagens Berman reminds investors in SAExploration Holdings, Inc. (NASDAQ: SAEX) of the upcoming 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.
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.
Globe Newswire: 20:00 GMT Saturday 12th October 2019
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