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Investigation announced for Long-Term Investors in shares of SAExploration Holdings, Inc. (NASDAQ: SAEX)

01-29-2020 08:28 PM CET | Politics, Law & Society

Press release from: Shareholders Foundation

An investigation on behalf of investors in SAExploration Holdings, Inc. (NASDAQ: SAEX) shares over potential wrongdoing.

An investigation on behalf of investors in SAExploration Holdings, Inc. (NASDAQ: SAEX) shares over potential wrongdoing.

Certain directors of SAExploration Holdings, Inc. are under investigation over potential breaches of fiduciary duties.

Investors who purchased shares of SAExploration Holdings, Inc. (NASDAQ: SAEX) and currently hold any of those NASDAQ: SAEX shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain SAExploration Holdings directors breached their fiduciary duties and caused damage to the company and its shareholders.

On August 19, 2019, a lawsuit was filed against SAExploration Holdings, Inc. (NASDAQ: SAEX) over alleged violations of Federal Securities Laws. The plaintiff claims that between March 15, 2016 and August 15, 2019, the defendants made false and/or misleading statements and/or failed to disclose that the Company improperly did not classify Alaska Seismic Ventures, LLC ("ASV") as a variable interest entity, that the Company had a controlling financial interest in ASV, which required the Company to consolidate ASV in its financial statements, that the Company had deficient internal controls over financial reporting, that these practices were likely to lead to an investigation of the Company by the SEC, that SAExploration would be forced to delay the filing of its quarterly report for the quarter ended June 30, 2019, and that as a result, Defendants' statements about SAExploration's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of SAExploration Holdings, Inc. (NASDAQ: SAEX) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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