March 18, 2014 (Shareholders Foundation) - An investigation on behalf of investors of Global Geophysical Services, Inc. (NYSE:GGS) shares over potential securities laws violations by Global Geophysical Services and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Global Geophysical Services, Inc. (NYSE:GGS) concerning whether a series of statements by Global Geophysical Services regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

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.

Shares of Global Geophysical Services, Inc declined to $0.463 per share on March 18, 2014.