Shareholder Alert: Robbins LLP Reminds Investors Gulfport Energy Corporation (GPOR) Sued for Misleading Shareholders
03 April 2020 - 5:33AM
Business Wire
Shareholder rights law firm Robbins LLP reminds investors that a
purchaser of Gulfport Energy Corporation (NASDAQ: GPOR) filed a
class action complaint against the Company for alleged violations
of the Securities Exchange Act of 1934 between May 3, 2019 and
February 27, 2020. Gulfport Energy engages in the exploration,
development, acquisition, and production of natural gas, crude oil,
and natural gas liquids.
If you suffered a loss as a result of Gulfport's misconduct,
click here.
Gulfport Energy Corporation (GPOR) Accused of Misleading
Shareholders
According to the complaint, in each of Gulfport's quarterly
report filings with the SEC for 2019, the Company touted the
effectiveness of its disclosure controls and procedures and
consistently assured investors there had been no material changes
that materially affected its internal control over financial
reporting. Despite these repeated assurances, on February 27, 2020,
Gulfport disclosed that its previously issued financial statements
for the three and nine months ended September 30, 2019, "should no
longer be relied upon due to material misstatements." The Company
further stated that as a consequence of these misstatements it
determined "a material weakness in internal control over financial
reporting existed as of September 30, 2019, and therefore the
Company has concluded that its disclosure controls and procedures
as of September 30, 2019 were not effective." On this news,
Gulfport's stock price fell almost 9% to close at $0.82 per
share.
Gulfport Energy Corporation (GPOR) Shareholders Have Legal
Options
Contact us to learn more: Leo Kandinov (800) 350-6003
lkandinov@robbinsllp.com Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Click here to receive free alerts from Stock Watch when
companies engage in wrongdoing.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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version on businesswire.com: https://www.businesswire.com/news/home/20200402005760/en/
Leo Kandinov Robbins LLP 5040 Shoreham Place San Diego, CA 92122
lkandinov@robbinsllp.com (619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com
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