Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether certain officers and directors of CAMAC Energy, Inc. (NYSE: CAK) breached their fiduciary duties to the company and its shareholders in connection with issuing false and misleading statements to the investing public, regarding significant accounting errors in CAMAC's public financial statements.
On June 19, 2013, CAMAC issued a statement in a Securities and Exchange Commission (SEC) Form 8-K filing announcing that CAMAC’s financial statements had to be restated, an admission that the statements were materially false and misleading. In connection with this restatement, the company's management determined that, as of March 31, 2014, there was a material weakness in the company's internal control over financial reporting and the company is developing a plan to address this material weakness.
Johnson & Weaver, LLP's investigation focuses on whether certain officers and directors knowingly issued false statements, failed to properly monitor the company's financial reporting structure, or failed to maintain sufficient controls over the company's accounting practices.
If you are a CAMAC shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (jimb@johnsonandweaver.com) at 619-814-4471. If you email, please include your phone number.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, Atlanta and New York. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Contacts:
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
