Zion Oil & Gas Inc (ZNOG)

[brothersinc]

I have been stacked up at work and barely have time to catch up. My apologies if this has been covered.
The law suit alleges that Zion fell .44 cents upon announcement of investigation. You think????
And Zion made false statements.
OK what statements would that be please?

On July 11, 2018, Zion disclosed that the Company had received a subpoena to produce documents from the Fort Worth office of the Securities and Exchange Commission (“SEC”), informing Zion of the existence of a non-public, fact-finding inquiry into the Company. On this news, Zion’s share price fell $0.44 per share, or 11%, to close at $3.56 per share on July 12, 2018, thereby injuring investors.

The Complaint filed in this class action alleges that Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Zion was either already or was likely to soon become the subject of an SEC investigation; and (2) as a result, Zion’s public statements were materially false and misleading at all relevant times.

Be blessed today!