An investigation for investors in NYSE:EXTN shares over potential securities laws violations by Exterran in connection certain financial statements was announced.
Investors who purchased shares of Exterran Corp (NYSE:EXTN), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on whether certain statements by Exterran regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Houston, TX based Exterran Corporation is engaged in the provision of compression, production and processing products and services that support the production and transportation of oil and natural gas around the world. On November 4, 2015, Exterran completed its spin-off from Exterran Holdings, Inc. into an independent, publicly traded company, and began “regular way” trading on the NYSE opening at $18.00 per share.
On February 25, 2016, Exterran Corp reported its fourth quarter 2015 results. Exterran Corp reported that its Total Revenue declined from over $2.17 billion in 2014 to over $1.86 billion in 2015 and that its Net Income of $152.51 million in 2014 declined to a Net Income of $46.21 million in 2015.
On April 26, 2016, in addition to delaying the filing of its first quarter 2016 Form 10-Q, Exterran Corp announced that it is restating its financial statements for 2015 because of material errors and possible irregularities relating to the accounting for certain Belleli EPC contracts, and that the financial statements for 2015 and the related independent accounting firm report should no longer be relied upon.
Shares of Exterran Corp (NYSE:EXTN) declined on April 26, 2016 to as low as $15.81 per share.
On May 11, 2016, NYSE:EXTN shares closed at $13.77 per share.
Those who purchased NYSE:EXTN shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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