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ANW.US
id: 681

Aegean Marine Petroleum Network, Inc. (ANW) $12M Securities Settlement

The settlement funds have been distributed to claimants.
$11,949,999
Cash Settlement
S.D. New York
Court
1:18-cv-04993
Case number
02/27/2014
Class period Start
11/05/2018
Class period End
09/20/2023
Claim deadline
Aegean Marine Petroleum Network (ANW) & Executives pay $11.95 million to investors to settle securities class action over allegations that:
  • Aegean had improperly accounted for approximately $200 million of accounts receivable as of December 31, 2017;
  • Aegean failed to maintain effective internal control over financial reporting;
  • as a result of the foregoing, the statements about Aegean's business, operations, and prospects, were false and misleading and lacked a reasonable basis.
Eligibility:
All persons who purchased Aegean Marine Petroleum Network, Inc. Securities During The Period Beginning February 27, 2014, Through November 5, 2018, may be entitled to a payout.
The securities subject to the Individual Defendants Settlements:
  1. the common stock of Aegean (Ticker: ANWWQ; CINS: Y0017S102) (pre-bankruptcy Aegean traded under the ticker “ANW”);
  2. Aegean 4.00% Convertible Unsecured Senior Notes due 11/1/2018 issued 10/23/2013 (the “4.00% Notes”) (CUSIP: Y0020QAA9; ISIN: USY0020QAA95);
  3. Aegean 4.25% Convertible Unsecured Senior Notes due 12/15/2021 issued 12/19/2016 (the “4.25% Notes”) (CUSIP: 00773VAA4 (CUSIP changed to 00773VAB2 on 2/12/2018); ISIN: US00773VAB27);
  4. Aegean call options; and
  5. Aegean put options.
Case Type
US Securities Class Action
Case Status
Disbursed
Alleged Offence
Financial Misrepresentation, 
Failure to Disclose, 
Negligence, 
Omissions
Suspected Party
Directors, 
Management, 
Service Provider, 
Other
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.15
Filing date
06/05/2018
Plaintiffs
Utah Retirement Systems
Attorneys
Berman Tabacco
Defendants
Spyros Gianniotis, Dimitris Melissanidis
Judge
Hon. Naomi Reice Buchwald
Administrator
A.B. Data Ltd
Court hearing date
10/19/2023
Exclusion deadline
09/28/2023
Objection deadline
09/28/2023
Hearing deadline
09/28/2023
Trades matching type
FIFO
Disbursement date
01/07/2025

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