Shareholders Foundation, Inc.

ATP Oil & Gas Corporation (OTCMKTS:ATPAQ) Investor Alert: Lawsuit Alleges Misleading Statements

A lawsuit was filed for certain investors in shares of ATP Oil & Gas Corporation (OTCMKTS:ATPAQ) over alleged securities laws violations. Deadline: October 4, 2013. ATP Oil & Gas investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

San Diego, CA -- (SBWIRE) -- 08/14/2013 -- An investor, who purchased shares of ATP Oil & Gas Corporation (OTCMKTS:ATPAQ) filed a lawsuit in the U.S. District Court for the Southern District of Texas over alleged violations of Federal Securities Laws by ATP Oil & Gas Corporation in connection with certain allegedly false and misleading statements made between December 16, 2010 through August 17, 2012

Investors who purchased a significant amount of shares of ATP Oil & Gas Corporation (OTCMKTS:ATPAQ) between December 16, 2010 through August 17, 2012, have certain options and for certain investors are short and strict deadlines running. Deadline: October 4, 2013. ATP Oil & Gas investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of ATP Oil & Gas Corporation (OTCMKTS:ATPAQ) common stock during the period between December 16, 2010 through August 17, 2012, that the defendants violated the Securities Exchange Act of 1934 and Securities Act of 1933.

ATP Oil & Gas Corporation reported that its annual Total Revenue increased from $298.49 million in 2009 to $687.21 million in 2011. However, its Net Loss increased from $48.96 million in 2009 to $337.55 million in 2010 and $191.90 million in 2011. On August 17, 2012, ATP Oil & Gas Corporation announced that it was filing for Chapter 11 bankruptcy. Shares of ATP Oil & Gas Corporation (OTCMKTS:ATPAQ) declined from as high as $22.64 per share in April 2010 to as low as 0.04 per share in Feb 2013.

The plaintiff alleges that Defendants materially misstated and/or failed to disclose that ATP Oil & Gas Corporation severely downplayed the impact that the United States Department of Interior moratoria had on the Company's business and revenues, that ATP Oil & Gas Corporation violated the provisions of certain credit agreements to which the Company was a party, and misstated ATP Oil & Gas Corporation’s liquidity and financial position.

The plaintiff claims that as a result of this misconduct, ATP Oil & Gas investors lost nearly the entire value of their investment as ATP Oil & Gas Corporation declared bankruptcy.

On August 13, 2013, ATP Oil & Gas Corporation (OTCMKTS:ATPAQ) shares closed at $0.05 per share.

Those who purchased a significant amount of shares of ATP Oil & Gas Corporation (OTCMKTS:ATPAQ) between December 16, 2010 through August 17, 2012, have certain options and for certain investors are short and strict deadlines running. Deadline: October 4, 2013. ATP Oil & Gas investors should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com