Shareholders Foundation, Inc.

Global Geophysical Services, Inc. (OTCMKTS:GEGSQ) Investor Alert: Lawsuit Alleges False and Misleading Statements

A lawsuit was filed on behalf of investors in Global Geophysical Services, Inc. (NYSE:GGS) shares over alleged securities laws violations. Deadline: May 19, 2014. NYSE:GGS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

San Diego, CA -- (ReleaseWire) -- 04/29/2014 -- An investor, who purchased shares of Global Geophysical Services, Inc. (OTCMKTS:GEGSQ, formerly NYSE:GGS), filed a lawsuit in the U.S. District Court for the Southern District of Texas over alleged violations of Federal Securities Laws by Global Geophysical Services, Inc. in connection with certain allegedly false and misleading statements made between April 21, 2010 through March 18, 2014.

If you purchased shares of Global Geophysical Services, Inc. (OTCMKTS:GEGSQ, formerly NYSE:GGS) and / or if you purchased Global Geophysical Services, Inc's Series A preferred stocks, you have certain options and for certain investors are short and strict deadlines running. Deadline: May 19, 2014. NYSE:GGS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Global Geophysical Services, Inc. (OTCMKTS:GEGSQ, formerly NYSE:GGS) between April 21, 2010 through March 18, 2014, and also on behalf of purchasers of the Company's Series A preferred stock from December 3, 2013 through March 18, 2014, that Global Geophysical Services, Inc. violated Securities Exchange Act of 1934.

Global Geophysical Services, Inc. reported that its annual Total Revenue declined from $385.36 million in 2011 to $338.98 million in 2012 and that its Net Income of $5.66 million in 2011 declined to a Net loss of $13.33 million in 2012.

Shares of Global Geophysical Services, Inc. (NYSE:GGS) declined from $11.57 per share in early 2012 to $1.25 per share on March 17, 2014.

Then on March 18, 2014, Global Geophysical Services, Inc announced that it is restating its annual financial statements for the years ended December 31 2009, 2010, 2011, and 2012, as well as its quarterly statements for the first three quarters of 2013.

Those who purchased shares of Global Geophysical Services, Inc. (OTCMKTS:GEGSQ, formerly NYSE:GGS) have certain options and 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@shareholdersfoundation.com