Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Warren Resources, Inc.
Oklahoma City, OK (September 19, 2016) – On August 11, 2016, a securities class action lawsuit was filed in the United States District Court for the District of Colorado against Warren Resources, Inc. (OTC PINK: WRESQ). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is November 4, 2014 through June 2, 2016. More specifically, the complaint alleges that certain of Warren's executive officers violated Sections 10(b) and 20(a) of the Securities Exchange Act by making materially misleading misrepresentations and omissions that Warren was "well positioned" to "ride out" and "successfully navigate" the "market fluctuations," when, in fact, Warren was becoming increasingly insolvent. Warren filed for Chapter 11 bankruptcy on June 2, 2016.
Plaintiff seeks to recover damages on behalf of all Warren Resources, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Tuesday, October 11, 2016 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click here to obtain an investor certification. Once complete, please email this form to email@example.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.
Posted on Mon, September 19, 2016
by Robin Hester filed under