NEW YORK, NY / ACCESSWIRE / November 25, 2022 / Pomerantz LLP is investigating claims on behalf of investors of National Energy Services Reunited Corp. ("NESR" or the "Company") (NASDAQ:NESR). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether NESR and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 7, 2022, NESR issued a press release advising investors that the Company had "received a delisting determination letter (the ‘Determination Letter') on November 1, 2022" from Nasdaq, which "notified the Company that since it had not filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2021 (the ‘2021 20-F') by October 31, 2022, the deadline by which the Company was to file the 2021 20-F in order to regain compliance with Listing Rule 5250(c)(1), the Company's ordinary shares and warrants are subject to delisting from The Nasdaq Capital Market."
On this news, NESR's stock price fell $0.56 per share, or 7.7%, to close at $6.71 per share on November 7, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
SOURCE: Pomerantz LLP