|[March 20, 2017]
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces an Investigation Involving Possible Securities Fraud Violations by Certain Officers and Directors of American Midstream Partners, LP
Levi & Korsinsky announces it has commenced an investigation of American
Midstream Partners, LP (NYSE:AMID) concerning possible violations of
federal securities laws.
On March 17, 2017, American Midstream announced that it was unable to
file its annual report for the year ended December 31, 2016 and advised
investors that it expects to report a material weakness in its internal
control over financial reporting. The Company stated that "The material
weakness relates to the lack of a sufficient compliment of resources
with an appropriate level of accounting knowledge, expertise and
training commensurate with the Partnership's financial reporting
requirements to ensure that complex, non-routine transactions are
properly recorded in its financial statements. This control deficiency
resulted in out of period adjustments being recorded to the
Partnership's consolidated statement of opertions for the fourth
quarter of 2016, as well as revisions to correct classification errors
in its consolidated balance sheet as of December 31, 2015, and its
consolidated statement of cash flows for the year ended December 31,
2015." Following this news, American Mainstream's share price has fallen
as much as $0.67, or 4.38%, during intraday trading on March 20, 2017.
To obtain additional information, go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com
or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York,
Connecticut and Washington D.C. The firm's attorneys have extensive
expertise in prosecuting securities litigation involving financial
fraud, representing investors throughout the nation in securities and
shareholder lawsuits. Attorney advertising. Prior results do not
guarantee similar outcomes.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170320006121/en/
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