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Wed 24 Aug 2011, 06:41 GMT

Aegean announces withdrawal of lawsuits


Class action lawsuits are withdrawn against supplier Aegean Marine Petroleum.

Aegean Marine Petroleum Network Inc. has announced that the putative 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lawsuit previously filed in the same court against the company and its board of directors have both been voluntarily withdrawn by the respective plaintiffs.

E. Nikolas Tavlarios, President, commented, "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."

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