Questerre Energy Corp (Canada)
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Energy : Oil, Gas & Consumable Fuels | Small Cap Blend
Based in CanadaCompany profile

Questerre Energy Corp is a Canada-based company engaged in the acquisition, exploration, and development of oil and gas projects. The Company operates non-conventional projects, such as tight oil, oil shale, shale oil and shale gas. It holds assets in Alberta, Saskatchewan, Manitoba and Quebec in Canada, as well as in Utah in the United States. It has base production and reserves in the tight oil bakken/torquay of southeast Saskatchewan. It holds over 19,040 acres in the Kakwa-Resthaven area. The Company has interests in the Antler area, which is approximately 200 kilometers from Regina in southeast Saskatchewan. It has interests in the Lowlands, which are located in Quebec, south of the St. Lawrence River between Montreal and Quebec City. The primary target in this area is Utica shale. It is bringing on production from its lands in the high-liquids Montney shale fairway. Its oil shale assets include prospective acreage in Saskatchewan and Wyoming.

Closing Price
$0.183
Day's Change
0.00 (0.00%)
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ADTRAN DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In ADTRAN, Inc. To Contact The Firm

3:38 pm ET October 21, 2019 (Newsfile) Print

New York, New York--(Newsfile Corp. - October 21, 2019) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in ADTRAN, Inc. (NASDAQ: ADTN) ("ADTRAN" or the "Company") of the December 16, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

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If you invested in ADTRAN stock or options between February 28, 2019 and October 9, 2019 and would like to discuss your legal rights, click here:www.faruqilaw.com/ADTN. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll freeat 877-247-4292 or at 212-983-9330 or by sending an e-mail torgonnello@faruqilaw.com.

CONTACT:

FARUQI & FARUQI, LLP

685 Third Avenue, 26th Floor

New York, NY 10017

Attn: Richard Gonnello, Esq.

rgonnello@faruqilaw.com

Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased ADTRAN securities between February 28, 2019 and October 9, 2019 (the "Class Period"). The case, Burbridge v. ADTRAN, Inc. et al., No. 19-cv-09619 was filed on October 17, 2019.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) that there were material weaknesses in the Company's internal control over financial reporting; (2) that, as a result, certain E&O reserves had been improperly reported; (3) that, as a result, the Company's financial results for certain periods were misstated; (4) that there would be a pause in shipments to the Company's Latin American customer; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

On July 17, 2019 the Company announced "preliminary" earnings for second quarter 2019 due to its ongoing assessment of the reasonableness of its current and previously reported excess and obsolete inventory reserves.

On this news, the Company's stock price fell from $15.82 per share on July 17, 2019 to $12.13 per share on July 18, 2019: a $3.69 or 23.32% drop.

Then, on October 9, 2019, after-market, the Company announced that its "revenue this quarter has been significantly impacted by a pause in shipments to a Tier 1 customer in Latin America and the continued slowdown in the spending at an international Tier 1 customer."

On this news, the Company's stock price fell from $10.91 per share on October 9, 2019 to $8.81 per share on October 10, 2019: a $2.10 or 19.25% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding ADTRAN's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

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