Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Harvest Natural Resources Inc.
Glancy Binkow & Goldberg LLP announces that a class action lawsuit has
been filed in the United States District Court for the Southern District
of Texas on behalf of a class (the “Class”) comprising all...
Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of Texas on behalf of a class (the “Class”) comprising all purchasers of the securities of Harvest Natural Resources Inc. (“Harvest” or the “Company”) (NYSE:HNR) between May 7, 2010 and March 18, 2013. Harvest, an independent energy company, engages in the acquisition, exploration, development, production and disposition of oil and natural gas properties. The Complaint alleges that throughout the Class Period defendants made false and/or misleading statements or failed to disclose material adverse facts about the Company's financial performance and prospects. Specifically, defendants misrepresented or failed to disclose that: (1) the Company incorrectly capitalized certain lease maintenance costs and certain internal selling, general and administrative costs; (2) the Company improperly presented certain cash flow items and caused certain long-lived assets to be impaired; (3) the Company was unable to sell its interests in Petrodelta S.A. to PT Pertamina (Persero); (4) the Company lacked adequate internal and financial controls; and (5) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times. No class has yet been certified in this action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Harvest securities during the Class Period, you have certain rights, and have until May 21, 2013 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Harvest Natural Resources (HNR) shares are up after the announcement that Venezuelan-Italian consortium CT Energy Holding SRL will purchase senior secured notes, convertible notes, and warrants from the oil company.