Harvest Natural Resources, Inc. Investigated by the Law Firm of Federman & Sherwood for Possible Securities Laws Violations
The law firm of Federman & Sherwood, a nationwide securities law firm,
announces an investigation on behalf of shareholders of Houston-based
Harvest Natural Resources, Inc. (NYSE: HNR) (“HNR” or “Company”) into
allegations that the Company has violated federal securities laws. HNR
today announced that it had identified material accounting weaknesses
that will require restatement of its financials dating back to 2010. The
oil and gas company added that it expects a loss for 2012, and it will
delay filing its 2012 annual report. HNR auditors are also prepared to
issue a "going concern qualification," which means HNR’s viability as a
company is in question. Early this year, shares had previously traded at
more than $10.00, but HNR stock prices took a hit in February when the
Company announced that its pending $725 million sale of Venezuelan
assets to Indonesia's state-owned PT Pertamina fell through. As a result
of these announcements, shares of HNR stock have dropped 60% in 2013.
If you currently own common stock in HNR, purchased your shares of
common stock between May 7, 2010 and March 18, 2013, and have
information to assist in our investigation of this transaction, or have
any questions or concerns regarding this notice or preservation of your
rights, please contact William B. Federman. Federman & Sherwood
specializes in representation of investors in securities, derivative and
merger-related shareholder class actions, and has been appointed as lead
counsel in multiple complex cases across the country.
