Laredo Petroleum, Inc. (LPI)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Laredo Petroleum, Inc. ("Laredo" or "the Company") (NYSE: LPI). The investigation concerns whether Laredo and certain of its officers and/or directors have violated federal securities laws.
On August 5, 2020, Laredo issued a press release announcing its financial results for the second quarter of 2020. Among other results, Laredo reported a net loss of $545.5 million, or $46.75 per diluted share. The press release also advised investors that “the Company filed an amended Form 10-Q for the quarter ended March 31, 2020” in order to “correct a $160 million understatement of the full cost ceiling impairment expense for the quarter ended March 31, 2020, which caused an understatement of the balances of accumulated depletion and impairment and accumulated deficit, and a corresponding overstatement of the same amount to both net income and the balance of our oil and natural gas properties as of March 31, 2020.” On this news, Laredo’s stock price fell sharply during intraday trading on August 6, 2020.
If you are aware of any facts relating to this investigation, or purchased Laredo shares, you can assist this investigation by contacting the firm. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.