Securities Class Action Lawsuit Filed Against Overseas Shipping Group
Inc.; Shareholders With Large Losses Encouraged to Contact Holzer
Holzer & Fistel, LLC Regarding December 26, 2012 Lead Plaintiff
ATLANTA, GA -- (Marketwire) -- 12/06/12 -- A class action lawsuit
has been filed on behalf of investors who purchased common stock of
Overseas Shipping Group, Inc. ("Overseas Shipping" or the "Company")
(NYSE: OSG) between May 4, 2009 and October 19, 2012. The lawsuit,
which was filed in the United States District Court for the Southern
District of New York, alleges that Overseas Shipping issued false and
misleading statements that caused its stock to trade at artificially
inflated prices. Specifically, the complaint alleges that Overseas
Shipping improperly accounted for tax liabilities during that time.
On October 22, 2012, after a series of revelations about the Company
that drove down its stock price, Overseas Shipping announced that its
financial statements for three years ending December 31, 2011 could
not be relied on and that it may restate those results. Overseas
Shipping's stock price declined even further on the news.
If you purchased Overseas Shipping common stock between May 4, 2009
and October 19, 2012, and suffered a net loss on those purchases you
have the legal right to petition the Court to be appointed a "lead
plaintiff." A lead plaintiff is a representative party that acts on
behalf of other class members in directing the litigation. Any such
request must satisfy certain criteria and be made no later than
December 26, 2012. Any member of the purported class may move the
Court to serve as lead plaintiff through counsel of their choice, or
may choose to do nothing and remain an absent class member.
Investors who are interested in serving as lead plaintiff or who have
questions concerning their legal rights may contact Michael I.
Fistel, Jr., Esq. (email@example.com) or Marshall P. Dees, Esq.
(firstname.lastname@example.org) by email or via toll-free telephone at (888)
Holzer Holzer & Fistel, LLC dedicates its practice to vigorous
representation of shareholders and investors in litigation
nationwide, including shareholder class action and derivative
litigation. More information about the firm is available through its
website, www.holzerlaw.com and upon request from the firm. Holzer
Holzer & Fistel, LLC has paid for the dissemination of this
promotional communication, and Michael I. Fistel, Jr. is the attorney
responsible for its content.
Michael I. Fistel, Jr., Esq.
Marshall P. Dees, Esq.
Holzer Holzer & Fistel, LLC
200 Ashford Center North, Suite 300
(888) 508-6832 (toll-free)
Press spacebar to pause and continue. Press esc to stop.