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Harvest Natural Resources, Inc. : Investigated by the Law Firm of Federman & Sherwood for Possible Securities Laws Violations

03/19/2013 | 04:05pm US/Eastern

The law firm of Federman & Sherwood, a nationwide securities law firm, announces an investigation on behalf of shareholders of Houston-based Harvest Natural Resources, Inc. (NYSE: HNR) ("HNR" or "Company") into allegations that the Company has violated federal securities laws. HNR today announced that it had identified material accounting weaknesses that will require restatement of its financials dating back to 2010. The oil and gas company added that it expects a loss for 2012, and it will delay filing its 2012 annual report. HNR auditors are also prepared to issue a "going concern qualification," which means HNR's viability as a company is in question. Early this year, shares had previously traded at more than $10.00, but HNR stock prices took a hit in February when the Company announced that its pending $725 million sale of Venezuelan assets to Indonesia's state-owned PT Pertamina fell through. As a result of these announcements, shares of HNR stock have dropped 60% in 2013.

If you currently own common stock in HNR, purchased your shares of common stock between May 7, 2010 and March 18, 2013, and have information to assist in our investigation of this transaction, or have any questions or concerns regarding this notice or preservation of your rights, please contact William B. Federman. Federman & Sherwood specializes in representation of investors in securities, derivative and merger-related shareholder class actions, and has been appointed as lead counsel in multiple complex cases across the country.

Federman & Sherwood
William B. Federman, 405-235-1560
wbf@federmanlaw.com


© Business Wire 2013
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