Zion Oil & Gas Inc (ZNOG)

[attesting]

This has nothing to do with an attack on Zion

This is a claim by Zion shareholders that Zion's false and misleading statements about the ongoing SEC investigation caused shareholders to lose money.
This is during the same time that using Material Non-Public Information, CEO Carillo was dumping his shares, before revealing the investigation publically.
Former CEO Carillo and CFO Croswell are specifically named in this civil suit.
Hopefully criminal charges are filed soon for this gross breach of fiduciary duty and corporate law.

From the filing:
4. Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Zion was either already or was likely to soon become the subject of an SEC investigation; and (ii) as a result, Zion’ public statements were materially false and misleading at all relevant times.

5. On July 11, 2018, Zion disclosed that the Company had received a subpoena to produce documents from the Fort Worth office of the SEC, informing Zion of the existence of a non-public, fact-finding inquiry into the Company. Zion advised investors that its “response to the subpoena will necessarily entail significant costs and management’s attention”.

6. On this news, the price of Zion common stock fell $0.44, or 11%, to close at $3.56 on July 12, 2018.

7. As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiffs and other Class members have suffered significant losses and damages.