An investigation on behalf of current long term investors in SAExploration Holdings, Inc. (NASDAQ: SAEX) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 10/17/2019 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of SAExploration Holdings, Inc..
Investors who are current long term investors in SAExploration Holdings, Inc. (NASDAQ: SAEX) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: SAEX stocks follows a lawsuit filed against SAExploration Holdings, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: SAEX stocks, concerns whether certain SAExploration Holdings, Inc. directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of Texas the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that the Company improperly did not classify Alaska Seismic Ventures, LLC ("ASV") as a variable interest entity, that the Company had a controlling financial interest in ASV, which required the Company to consolidate ASV in its financial statements, that the Company had deficient internal controls over financial reporting, that these practices were likely to lead to an investigation of the Company by the SEC, that SAExploration would be forced to delay the filing of its quarterly report for the quarter ended June 30, 2019, and that as a result, Defendants' statements about SAExploration's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times
Those who purchased shares of SAExploration Holdings, Inc. (NASDAQ: SAEX) have certain options and should contact the Shareholders Foundation.
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