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Harvest Natural Resources, Inc. : Glancy Binkow & Goldberg LLP Announces Investigation On Behalf of Shareholders of Harvest Natural Resources Inc.

03/20/2013 | 07:05pm US/Eastern

Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against Harvest Natural Resources Inc. ("Harvest" or the "Company") (NYSE:HNR) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by the Company between May 7, 2010 and March 18, 2013, regarding Harvest's business, operations and prospects were false and misleading.

Harvest, an independent energy company, engages in the acquisition, exploration, development, production, and disposition of oil and natural gas properties. Specifically, the investigation relates to Harvest's March 18, 2013 announcement that it will revise and possibly restate certain of its 2010, 2011 and 2012 financial statements. According to the Company, Harvest concluded that there were certain errors related to, among others, the capitalization of certain lease maintenance costs and certain internal selling, general and administrative costs. In addition, the Company disclosed that it had determined that a material weakness existed in Harvest's controls over the accuracy and presentation of its accounting for certain long-lived assets. On this news, shares of Harvest declined more than 30%, on heavy trading volume.

If you purchased Harvest securities between May 7, 2010 and March 18, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or 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 or Toll Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com, 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.

Glancy Binkow & Goldberg LLP, Los Angeles, CA
Michael Goldberg
(310) 201-9150 or (888) 773-9224
shareholders@glancylaw.com
www.glancylaw.com


© Business Wire 2013
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