Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Aug. 12, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Laredo Petroleum, Inc. ("Laredo" or the "Company") (NYSE: LPI) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors. The investigation focuses on news concerning potential violations of the federal securities laws.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: email@example.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On August 5, 2020, a press release was issued by Laredo announcing its financial results for the second quarter of 2020. Along with other results, Laredo reported a net loss of $545.5 million, or $46.75 per diluted share. In this press release investors were also advised 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.” Laredo’s stock price fell $0.76 per share on this news, or 4.59%, to close at $15.81 per share on August 6, 2020.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
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