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PrimeEnergy Corporation (NASDAQ:PNRG) Investor Investigation Announced

  • If you purchased shares of PrimeEnergy Corporation (NASDAQ:PNRG), you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
PrimeEnergy Corporation
Security
NASDAQ: PNRG

Summary

June 1, 2016 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of PrimeEnergy Corporation (NASDAQ:PNRG) was announced over potential breaches of fiduciary duties by certain officers and directors at PrimeEnergy.

The investigation by a law firm concerns whether certain PrimeEnergy officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

PrimeEnergy Corporation reported that its annual Total Revenue declined from $144.58 million in 2014 to $79.11 million in 2015 and that its Net Income of $27.05 million in 2014 declined to a Net Loss of $12.78 million in 2015.

Shares of PrimeEnergy Corporation (NASDAQ:PNRG) declined from $76.95 per share in September 2015 to as low as $27.50 per share on April 8, 2016.

On June 1, 2016, NASDAQ:PNRG shares closed at $59.18 per share.

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