An investigation for investors in NYSE:TREC shares was announced concerning possible violations of securities laws by Trecora Resources and certain of its directors and officers.
Investors who purchased shares of Trecora Resources (NYSE:TREC), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm focuses on whether certain statements by Trecora Resources regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Sugar Land, TX based Trecora Resources, formerly Arabian American Development Company, is engaged in manufacturing of specialty petrochemical products and synthetic waxes, and providing custom processing services.
On March 1, 2017, Trecora Resources reported its fourth quarter and full year 2016 results. Trecora Resources reported that its annual Total Revenue declined from $241.98 million in 2015 to $212.40 million in 2016 and that its Net Income increased from $18.60 million in 2015 to $19.43 million in 2016. In addition, Trecora Resources reported announced that its Audit Committee, “following consultation with management and discussion with the company’s independent registered public accounting firm . . . concluded that there were errors in the accounting for its equity in earnings from its investment in AMAK in Q2 and Q3 2016.”
Trecora Resources further advised investors that the Company’s quarterly reports for those periods should no longer be relied upon, and that Trecora Resources would restate its financial and operating results for those quarters before filing its annual report for 2016.
Shares of Trecora Resources (NYSE:TREC) closed on March 30, 2017 at $11.10 per share.
Those who purchased NYSE:TREC shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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