The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of Texas on behalf of investors who purchased Zion Oil & Gas, Inc. (NASDAQ: ZN) securities between March 12, 2018 and July 10, 2018.
According to the ZN lawsuit, throughout the Class Period defendants made 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 U.S. Securities and Exchange Commission investigation; and (2) as a result, Zion’s public statements were materially false and misleading at all relevant times. On March 27, 2018, Zion issued a statement on Twitter, denying an allegation on the social media platform that there was an SEC investigation of the Company underway. On May 30, 2018, the Company tweeted "There is no SEC investigation into Zion Oil & Gas, Inc." Then on July 11, 2018, Zion announced it had received a subpoena from the SEC to produce documents as part of a fact-finding inquiry. Following this news, shares of Zion fell 11% to close at $3.56 per share on July 12, 2018.
If you suffered a loss in Zion Oil & Gas, Inc. you have until October 9, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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