The Shareholders Foundation announces that an investor in shares of K-Sea Transportation Partners L.P. (formerly NYSE:KSP) filed a lawsuit against K-Sea Transportation over alleged Violations of Federal Securities Laws in connection with certain of its Financial Statements.
Investors who purchased K-Sea Transportation Partners L.P. (formerly NYSE:KSP) securities during the period between January 30, 2009 and January 27, 2010, have certain options and there are strict and short deadlines running. Deadline: March 27, 2012. Those NYSE:KSP stockholders should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554..
According to the complaint filed in the U.S. District Court, District of New Jersey the plaintiff alleges on behalf of all persons or entities who purchased K-Sea Transportation Partners L.P. (formerly NYSE:KSP) securities during the period between January 30, 2009 and January 27, 2010, that K-Sea Transportation and certain of its officers violated the Securities Exchange Act of 1934.
On October 28, 2009, K-Sea Transportation Partners L.P. issued a press release announcing its operating results for the first quarter fiscal 2010.
Then on January 28, 2010, K-Sea Transportation Partners disclosed that it had incurred a $1.7 million charge in connection with overpaying for its water treatment facility due to lack of lease renewal options, its vessel utilization was the lowest in a decade, and K-Sea Transportation’s dividend was suspended.
K-Sea Transportation Partners units fell $4.99 or 33.5%, to close at $9.89 on January 28, 2010.
In July 2011, Kirby Corporation acquired K-Sea Transportation Partners L.P.
Those who are purchased K-Sea Transportation Partners L.P. (NYSE:KSP) have certain options and there are strict and short deadlines running. Deadline: March 27, 2012. Those NYSE:KSP stockholders 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(at)shareholdersfoundation.com