Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of investors who purchased Houston American Energy Corporation (“Houston American” or the “Company”) (NYSE/AMEX: HUSA) securities between March 29, 2010 and April 18, 2012 (the “Class Period”).
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On March 1, 2012, the Company announced delays in drilling its Tamandua #1 well and claimed that further analysis of the well’s C7 and C9 formations would be announced as soon as they became available. On this news, Houston American securities fell more than 35 percent. Then on April 19, 2012, the Company ceased “efforts to test and complete the C7 and C9 formations in the Tamandua #1 sidetrack well...due to formation damage while drilling.” The Company also disclosed that the Securities and Exchange Commission formalized an investigation of Houston American on March 1, 2011, seeking to determine whether the Company violated federal securities laws. On these revelations, Houston American shares declined $1.24 or more than 35.5%, to close at $2.25 on April 19, 2012.
If you suffered a loss in Houston American, you have until June 26, 2012
to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at
or by telephone at (877) 363-5972, or visit
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