NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm announces that it has filed a class action against Global Geophysical Services, Inc. (NYSE: GGS and GGS-PA) on behalf of purchasers of the Company’s common stock during the period from April 21, 2010 through March 18, 2014, and also on behalf of purchasers of the Company’s Series A preferred stock from December 3, 2013 through March 18, 2014. The lawsuit seeks to recover damages for GGS shareholders under the federal securities laws.
To join the GGS class action, go to the website at http://rosenlegal.com or call Phillip Kim, Esq. or Jonathan Horne, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or jhorne@rosenlegal.com for information on the class action. The lawsuit is pending in the U.S. District Court for the Southern District of Texas.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
On March 18, 2014, GGS announced that it is restating its annual financial statements for the years ended December 31 2009, 2010, 2011, and 2012, as well as its quarterly financial statements for the first three quarters of 2013. For the three months ended September 30, 2013, GGS announced that the restatement would decrease revenues by $5.0 million. The restatement indicates that GGS’s prior financial statements for these periods were materially inaccurate. The restatement caused GGS’s share price to fall 61%, and the price of its preferred stock 76%, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 19, 2014. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Jonathan Horne, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or jhorne@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
