After NYSE NOA stocks fell over 30% within just a few trading days an investigation on behalf of investors in shares of North American Energy Partners Inc.(USA) (NYSE NOA) over possible violations of Federal Securities Laws was announced.


The investigation by a law firm focuses on whether North American Energy Partners Inc.(USA) has violated federal securities laws by issuing false and misleading statements to its shareholders. Additionally the investigation concerns also whether certain directors and officers of North American Energy Partners breached their fiduciary duties.

The 12months Total Revenue of North American Energy Partners Inc.(USA) (NOA) decreased from $989.70million reported on March 31, 2008 to $758.97million reported on March 31, 2010. North American Energy Partners Inc.(USA) was able to get out from a Net Loss of $137.88million reported on March 31, 2009 to a Net Income of $29.17million reported on March 31, 2010, however, its 2010 Net Income was still lower than its Net Income of $37.98million reported on March 31, 2008.

Shares of North American Energy Partners Inc.(USA) (NYSE NOA) traded during 2007 and 2008 well above $20 per share and fell during 2009 to as low as $1.90 per share. Since then NOA shares were able to increase over $10 per share in the first months of 2011. In fact NOA stock traded as high as $13.87 on March 4, 2011.

Then on May 18, 2011 North American Energy Partners announced that it expects to take a writedown of $40 million to $45 million in its financial results for the fiscal year ended March 31, 2011 related to the long-term overburden removal contract between its subsidiary North American Construction Group Inc. and Canadian Natural Resources Limited for the Horizon Oil Sands mine near Fort McMurray, Alberta. North American Energy Partners said that this write-down would be applied primarily to reduce unbilled revenue and is expected to reduce net income by $30 million to $34 million for the same period.
On May 19, 2011, North American Energy Partners announced that on May 18 it had been notified by its customer, Canadian Natural Resources Limited, of the suspension of work at the Canadian Natural's Horizon Project.
The suspension is being taken while Canadian Natural Resources Limited undertakes repairs to its primary upgrading facility, which was damaged in a fire in January 2011.

Shares of American Energy Partners Inc.(USA) (NYSE:NOA) fell on May 18 to $7.57, on May 19 respectively to$7.17 per share.