New York, New York (PRWEB) March 19, 2013
Zamansky & Associates LLC notifies all investors in Harvest Natural Resources Inc. (“Harvest Natural Resources”), the Houston, Texas-based oil and gas company that it is investigating the Company for possible violations of federal securities laws. The investigation concerns whether the Company’s officers and directors were aware of weaknesses and/or irregularities in its internal accounting controls.
Today, Marketwatch reported that Harvest Natural Resources’ stock price plunged 40% after the Company announced that it found accounting errors and would have to restated its financial reports back to 2010. As reported by Bloomberg News, Harvest Natural Resources announced these restatements, that it was delaying the filing of its 2012 annual reports, and that its auditor had issued a “going concern warning.” The Company attributed these to weaknesses found in its internal accounting controls over its accounting for certain long-lived assets and errors in its accounting for internal selling, general and administrative costs, Bloomberg News reported.
The investigation by Zamansky & Associates LLC concerns whether Harvest Natural Resources knew and failed to disclose its true financial condition. On February 20, 2013, Bloomberg News reported that Harvest Natural Resource’s sale of $725 million of its Venezuelan assets to the Indonesian state-owned company failed. According to Jake Zamansky, the timing of its announcement raises questions over whether the Company’s officers and directors knew of the financial problems but concealed them to try to complete the sale.
What Harvest Natural Resources Investors Can Do
If you are a shareholder of Harvest Natural Resources and would like to discuss your legal rights, you may, without obligation or cost to you, email email@example.com or call the law firm at (212) 742-1414.
About Zamansky & Associates
Zamansky & Associates LLC is one of the leading law firms specializing in securities fraud and financial services arbitration and class action litigation. We represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.
To learn more about Zamansky, please visit our website, http://www.zamansky.com.
Zamansky & Associates, LLC
50 Broadway - 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414