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    AMSA secures emergency response vessel for Torres Strait and Great Barrier Reef protection

    AMSA secures emergency response vessel for Torres Strait and Great Barrier Reef protection

    ReCAAP ISC: Two armed robbery incidents in Asia

    ReCAAP ISC: One incident of armed robbery 28 November – 4 December

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    Tanker abandoned in Philippines runs aground in Vietnam

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    Prediabetes is a serious health condition: What you need to know

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    Stay SEAFiT: Why Musculoskeletal Health matters

    Stay SEAFiT: Why Musculoskeletal Health matters

    Book Review: A role model for ship managers

    Book Review: How technology will transform the work of human experts

    Why we should start talking about mentoring in shipping

    Why we should start talking about mentoring in shipping

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    Sumitomo Corporation, Höegh Autoliners pioneer green maritime transport with clean ammonia

    Sumitomo Corporation, Höegh Autoliners pioneer green maritime transport with clean ammonia

    Steel Demand and Emissions in Shipping 2024-2050

    LR: Steel demand and emissions in shipping 2024-2050

    Three parties successfully complete first LNG bunkering for car carrier

    Three parties successfully complete first LNG bunkering for car carrier

    DNV awards AiP for world’s largest car carrier design by China Merchants

    DNV awards AiP for world’s largest car carrier design by China Merchants

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    BV classification notations for smart shipping

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    ZeroNorth helps Golden Island adopt eBDN system

    ZeroNorth helps Golden Island adopt eBDN system

    K Line tests Autonomous navigation onboard RORO

    Autonomous navigation system successfully tested onboard RORO

    pil cargo screening tool

    Danelec expands maritime digitalization with Nautilus Labs’ AI technology platform

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    fire onboard cargo vessel

    RISK4SEA announces CIC Preliminary Results on fire safety (September – October)

    Port State Control (PSC) inspections

    BMA: Key requirements for Port State Control inspections

    Port,Alma,,Australia

    AMSA bans third ship from poor-performing operator

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    UK MCA: Foreign flagged ships detained in the UK during October 2023

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    Russia’s seaborne diesel exports soar after export ban lifted

    Russia’s seaborne diesel exports soar after export ban lifted

    shipping line

    India resumes oil trade with Venezuela after US sanctions ease

    European Commission commits €1 million to Blue Mediterranean Partnership

    European Commission funds blue investments in the non-EU Mediterranean regions

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    Career Paths: Nikeel Idnani, PPG and IMarEST

    Career Paths: Nikeel Idnani, PPG and IMarEST

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    International Propeller Club: A balance between environmental goals and economic realities is vital

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SAFETY4SEA

US legal cases against Aegean dropped

by The Editorial Team
September 6, 2011
in Shipping
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Global supplier says ‘withdrawal of both suits speaks for itself’

2011.5.12-Vessel.jpgGlobal bunker supplier Aegean Marine Petroleum Network Inc says the law suits filed against the company and certain of its officers have been dropped. In a statement Aegean says that the “securities class action lawsuit previously filed in the United States District Court for the Southern District of New York against the company, its chairman and certain of its executives as well as the shareholder derivative action lawsuit previously filed in the same court against the company and its board of directors have both been voluntarily withdrawn by the respective plaintiffs”.

Aegean’s president, Nikolas Tavlarios, said, “When these lawsuits were filed, we told our shareholders, customers, and suppliers that they were without merit. We believe the withdrawal of both suits speaks for itself.”

At least two claimants were believed to be making allegations centred on statements regarding the intrinsic value of the company’s securities. From the start Aegean strongly rejected the claims, calling them “without merit” and complaining that they unfairly impugned the integrity both of the company and individual defendants.

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Source: World Bunkering

US legal cases against Aegean dropped
US legal cases against Aegean dropped
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