A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Houston American Energy Corporation (AMEX:HUSA) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on July 30, 2015 and AMEX:HUSA investors should contact the Shareholders Foundation
San Diego, CA -- (SBWIRE) -- 05/20/2015 -- A deadline is coming up on July 30, 2015. in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Houston American Energy Corporation (AMEX:HUSA) between November 9, 2009 and April 18, 2012.
Investors who purchased a significant amount of shares of Houston American Energy Corporation (AMEX:HUSA)between November 9, 2009 and April 18, 2012, have certain options and should contact the Shareholders Foundation by email at email@example.com or call +1(858) 779 - 1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Houston American Energy Corporation (AMEX:HUSA) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/houston-american-energy-corporation-amex-husa-investor-securities-class-action-lawsuit-04272012
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is July 30, 2015. The class action administrator for this case is Heffler Claims Group.
The lawsuit was originally filed in the U.S. District Court for the Southern District of Texas against Houston American Energy Corporation over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between March 29, 2010 and April 18, 2012.According to the complaint the plaintiff alleges on behalf of all persons who purchased Houston American Energy Corporation (AMEX:HUSA) securities between March 29, 2010 and April 18, 2012, that Houston American Energy Corporation and certain of its top officials violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 1, 2012, Houston American Energy Corporation disclosed an update on drilling operations and on April 19, 2012, Houston American Energy Corporation (AMEX:HUSA) announced that a determination has been made to cease efforts to test and complete the C7 and C9 formations in the Tamandua #1 sidetrack well. Houston American Energy Corporation said that despite favorable Logging-While-Drilling logs, cased-hole logs and mudlog shows, it was determined that continued investment in testing and completion is inadvisable at this time possibly due to formation damage while drilling.
Houston American Energy Corporation also confirmed that the Securities and Exchange Commission ("SEC") is conducting a non-public formal investigation into Houston American Energy Corporation. Pursuant to the investigation, in February and April of 2012, Houston American Energy Corporation received three subpoenas issued by the SEC. The subpoenas called for the testimony of Houston American Energy Corporation's chief executive officer and chief financial officer and the delivery of certain documents. The subpoenas were issued pursuant to a nonpublic formal order of private investigation issued by the SEC on March 1, 2011, which followed a nonpublic informal inquiry commenced by the SEC in October 2010. Although Houston American Energy Corporation cannot be certain of the scope of the investigation, the SEC is trying to determine whether there have been any violations of the federal securities laws.
Those who purchased shares of Houston American Energy Corporation (AMEX:HUSA) have certain options and should contact the Shareholders Foundation.
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