PR Newswire
NEW YORK
,
Aug. 23, 2021
/PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of San Juan Basin Royalty Trust (“SJB” or the “Trust”) (NYSE: ANVS). Such investors are advised to contact
Robert S. Willoughby
at
[email protected]
or 888-476-6529, ext. 7980.
The investigation concerns whether SJB and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On
August 20, 2021
, SJB announced that “it will not declare a monthly cash distribution to the holders of its Units of beneficial interest” due to “excess production costs for the
June 2021
production month.” The Trust disclosed that “true-ups that occurred last month to the lease operating and capital cost categories for the
January 2021
through
April 2021
production months resulting in additional profits were made in error” and that “the
June 2021
reporting month includes a reduction of
$2,043,557.99
gross profits (
$1,532,668.49
net to the Trust) due to corrections for those periods.”
On this news, SJB’s stock price fell
$0.86
per share, or 17.1%, to close at
$4.17
per share on
August 20, 2021
.
Pomerantz LLP, with offices in
New York
,
Chicago
,
Los Angeles
,
Paris
, and
Tel Aviv
, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late
Abraham L. Pomerantz
, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See
www.pomlaw.com
.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
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SOURCE Pomerantz LLP
