Ithaca Energy Inc: Statement of Claim Notice Going to hurt today.
Ithaca Energy Inc.
Statement of Claim Notice
28 May 2015
Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) ("Ithaca" or the "Company") notes that it has received a Statement of Claim from a law firm that advertises itself as undertaking investor lawsuits. The Statement of Claim relates to purported misrepresentation of information regarding the past schedule for completion of the "FPF-1" floating production facility modification works being completed by Petrofac. The Company vigorously refutes any such allegations and strongly denies any suggested wrongdoing. The Company will be taking all necessary legal measures to defend itself against the Statement of Claim.
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BUZZ-Ithaca Energy: Statement of claim knocks shares (Thomson Reuters)
** Ithaca Energy's London-listed shares slumps as much as 19 pct, 2nd top loser on FTSE AIM Oil and Gas Index & on track for largest intra-day fall in 3 mnths
** Co says received a statement of claim from a law firm regarding alleged misrepresentation of information over completion of modifications at a floating production facility at its Greater Stella Area asset in the North Sea
** North Sea oil and gas co, which refutes any allegations and strongly denies any suggested wrongdoing, does not immediately respond to a request for further comments
** Stock trades in heavy volumes, with over 2 mln shares having changed hands within the first half an hour of trading vs daily avg of 1.6 mln