Erin Energy Corp (NYSEMKT:ERN) Investor Investigation Over Potential Breaches Of Fiduciary Duties Announced

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Company Name(s): 
Erin Energy
Affected Securities: 
NYSEMKT: ERN

June 12, 2015 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of Erin Energy Corp (NYSEMKT:ERN) shares was announced over potential breaches of fiduciary duties by certain officers and directors at Erin Energy.

The investigation by a law firm concerns whether certain Erin Energy Corp (NYSEMKT:ERN officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

Erin Energy Corp reported that its annual Total Revenue declined from $74.67 million in 2012 to $53.84 million in 2014 and that its Net Loss increased from $32.71 million in 2012 to $96.06 million in 2014. Shares of Erin Energy Corp (NYSEMKT:ERN) increased from $4.81 per share on May 11, 2015 to as high as $8.76 per share on June 2, 2015.

On June 8, 2015, NYSEMKT:ERN shares declined to $5.51 per share.