Sarraf Gentile LLP Investigates Overseas Shipholding Group Inc.

NEW YORK, NEW YORK, October 23, 2012.  Sarraf Gentile LLP announces that it is investigating Overseas Shipholding Group, Inc. (“OSG” or the “Company) (NYSE: OSG) in connection with its disclosure of a tax issue and the possible need to restate its financial statements.
 
On October 22, 2012, the Company stated that it is in the process of reviewing a tax issue and that the Company’s previously issued financial statements for at least the three years ended December 31, 2011 and associated interim periods, and for the fiscal quarters ended March 31 and June 30, 2012, should no longer be relied upon.  The Company further stated that it is continuing its review processes, including determining whether a restatement of those financial statements may be required, and that Company is also evaluating its strategic options, including a potential bankruptcy filing.  The Company’s shares dropped 62% in regular session trading as a result of this news.
 
If you purchased or own OSG stock and want to discuss your legal rights, at no cost and without obligation, please contact Joseph Gentile at Sarraf Gentile LLP (telephone: 212-868-3610; e-mail: joseph@sarrafgentile.com). 
 
Sarraf Gentile LLP has extensive experience litigating shareholder class actions across the United States and has recovered millions of dollars on behalf of injured shareholders. 
 
NOTE: Sarraf Gentile LLP pledges to donate 10% of any net attorneys’ fees earned in connection with this mater to worthy unaffiliated charities. 
 
ATTORNEY ADVERTISING.  Prior results do not guarantee a similar outcome.

Contact Information

Joseph Gentile

Attorney

Sarraf Gentile LLP

(1) (212) 868-3610

joseph@sarrafgentile.com