Investigation announced for Investors in shares of Overseas Shipholding Group, Inc. (NYSE: OSG)

Overseas Shipholding Group, Inc is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Overseas Shipholding Group, Inc. (NYSE: OSG), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Overseas Shipholding Group, Inc. (NYSE: OSG) concerning whether a series of statements by Overseas Shipholding Group, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Tampa, FL based Overseas Shipholding Group, Inc., together with its subsidiaries, owns and operates a fleet of oceangoing vessels.

Overseas Shipholding Group, Inc. (NYSE: OSG) reported that its annual Total Revenue rose from $355.54 million in 2019 to $418.69 million in 2020, and that its Net Income increased from $8.67 million in 2019 to $30. Million in 2020.

On September 7, 2021, Saltchuk Holdings (“Saltchuk”) disclosed in a U.S. Securities and Exchange Commission filing that it had ended discussions regarding a potential offer for Overseas Shipholding. Specifically, Saltchuk stated that it “has notified [Overseas Shipholding] that, in light of continued uncertainty with respect to the pace and trajectory of the global pandemic recovery and its effects on [Overseas Shipholding’s] business and operations, Saltchuk Holdings is suspending discussions with the [Company] regarding a possible acquisition of its outstanding common stock.”

Shares of Overseas Shipholding Group, Inc. (NYSE: OSG) closed on September 27, 2021, at $2.15 per share.

Those who purchased shares of Overseas Shipholding Group, Inc. (NYSE: OSG) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

 

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