Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against China Auto, Aegean Marine, and Ormat, and Encourages Investors to Contact the Firm

NEW YORK, Aug. 01, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of China Auto Logistics Inc., Aegean Marine Petroleum Network Inc., Ormat Technologies, Inc. Stockholders have until the deadlines listed below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

China Auto Logistics Inc. CALI

Class Period: March 28, 2017 - April 13, 2018

Lead Plaintiff Deadline: August 6, 2018

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) China Auto failed to maintain adequate internal controls over identifying and reporting certain relationships and related transactions; and (2) as a result, defendants public statements were materially false and misleading at all relevant times.

To learn more about the China Auto class action go to: https://bespc.com/chinaauto/.

Aegean Marine Petroleum Network Inc. ANW

Class Period: April 28, 2016 - June 4, 2018

Lead Plaintiff Deadline: August 6, 2018

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that (1) Aegean had improperly accounted for an approximate $200 million of accounts receivable as of December 31, 2017; (2) Aegean failed to maintain effective internal control over financial reporting; and (3) as a result of the foregoing, Defendants statements about Aegean's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

To learn more about the Aegean class action go to: https://bespc.com/aegean/.

Ormat Technologies, Inc. ORA

Class Period: August 8, 2017 - April 15, 2018

Lead Plaintiff Deadline: August 10, 2018

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that (1) there were errors in the income tax provision primarily relating to Ormat's valuation allowance based on its ability to utilize foreign tax credits in the U.S. prior to their expiration; (2) Ormat violated United States generally accepted accounting principles; (3) Ormat's internal controls over financial reporting were ineffective; (4) Ormat would need to restate its second, third and fourth quarter 2017 financial statements and its full-year 2017 financial statements; and (5) as a result, defendants' statements about Ormat's business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times. The complaint claims that when the truth was revealed to the market, investors suffered damages.

To learn more about the Ormat class action go to: https://bespc.com/ora/.

Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com.

Contacts

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com