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Barbuto & Johansson, P.A. Informs Investors of the Pending Class Action Lawsuit Against SAExploration Holdings, Inc. (NASDAQ: SAEX): SEC Investigation Underway; Company CEO Placed on Admin. Leave and CFO and General Counsel Fired

1042 Days ago

WELLINGTON, Fla., Aug. 19, 2019 (GLOBE NEWSWIRE) -- Barbuto & Johansson, P.A. (“BARJO”) and Of Counsel, Neil Rothstein, Esq. (with over 30 years of Securities Class Action Experience, including cases against ENRON and Halliburton) reminds investors that they have until October 17, 2019 to contact the Firm to learn more about the class action filed against SAExploration Holdings, Inc. (NASDAQ: SAEX), and appointment and qualifications to be considered for the role of lead plaintiff.

According to the complaint, the defendants during the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company improperly did not classify Alaska Seismic Ventures, LLC (“ASV”) as a variable interest entity; (2) the Company had a controlling financial interest in ASV, which required the Company to consolidate ASV in its financial statements; (3) the Company had deficient internal controls over financial reporting; (4) these practices were likely to lead to an investigation of the Company by the SEC; and (5) as a result, Defendants’ statements about SAExploration’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you’ve suffered damages from investing in SAEX between March 15, 2016 through August 15, 2019 (the “Class Period”), and would like to discuss your options, you may, without obligation or cost, contact Anthony Barbuto, by phone at (888) 715-2520 (Office), by phone or text at (561) 531-8221 (Cell), or email at anthony@barjolaw.com; or attorney Neil Rothstein via his cell at (330) 860-4092 or email at neil@barjolaw.com.

BARJO follows the principles set forth in the case Berger v. Compaq, 257 F.3d 475 (5th Cir. 2001) which states “[c]lass action lawsuits are intended to serve as a vehicle for capable, committed advocates to pursue the goals of the class members through counsel, not for capable, committed counsel to pursue their own goals through the class members.” BARJO believes strongly that the choice of qualified Lead Plaintiff(s) can have a significant impact on the successful outcome of a case.


Barbuto & Johansson, P.A.
Anthony Barbuto, Managing Partner
Toll Free: 888-715-2520
Cell: 561-531-8221

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