NEW YORK, Aug. 31, 2019 — Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of SAExploration Holdings Inc. (SAEX) between March 15, 2016 and August 15, 2019 , inclusive (the “Class Period”).
If you wish to serve as lead plaintiff, you must move the Court no later than October 17, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to obtain a recovery is not dependent upon being a lead plaintiff. If you wish to join the https://zhanginvestorlaw.com/join-action-form/?slug=saexploration-holdings-inc&id=1988 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email email@example.com, firstname.lastname@example.org for information on the class action.
According to the lawsuit, throughout the Class Period, SAEX and its senior executives presented false and misleading financial statements by failing to consolidate the results of Alaska Seismic Ventures, LLC (“ASV”), an entity in which the Company had a controlling financial interest, in its financial statements. These accounting abuses led to the Company disclosing: (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 Whitely had been fired. When this news entered the market, the lawsuit alleges that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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