SOURCE: Gilman Law LLP

Gilman Law LLP

May 01, 2012 18:19 ET

Houston American Energy Corp. Lawsuit Deadline of June 26, 2012, Announced by Shareholder Rights Firm Gilman Law LLP

NAPLES, FL--(Marketwire - May 1, 2012) - The Leading National Securities Law Firm Gilman Law LLP announces that a Securities Fraud Lawsuit has commenced in the United States District Court for the Southern District of Texas against Houston American Energy Corp. (Case 12-01332). The lawsuit alleges that Houston American (NYSE Amex: HUSA) and its executives issued materially false and misleading statements to investors as well as omitted pertinent information, thereby violating the Securities Exchange Act of 1934.

If you purchased or otherwise acquired shares of Houston American common stock between March 29, 2010, and April 18, 2012 (the "class period"), you are encouraged to contact Gilman Law before the June 26, 2012 Deadline. Investors may contact Ken Gilman, the managing partner of Gilman Law LLP, at (239) 221-8301 or by email at consultations@gilmanlaswllp.com for a Free Evaluation of your case. Investors may also visit our website to learn more about the Houston American Securities Fraud Lawsuit.

Houston American Securities Fraud Lawsuit Details

Houston American explores for and produces natural oil and gas in the United States and South America. On March 1, 2012, the Company announced delays in drilling its Tamandua#1 well and claimed that further analysis of the well's C7 and C9 formations would be announced as soon as they were available. On this news, Houston American securities plummeted $3.84 per share or more than 35%, to close at $7.00 per share on March 1, 2012. On April 19, 2012, Houston American announced that it would be ceasing the exploration of its Tamandua well and was being investigated by the SEC to determine whether there have been any violations of the federal securities laws.

About Gilman Law

The experienced securities law attorneys of Gilman Law LLP have over 33 years of experience in securities law and have been involved in all major aspects of securities litigation. Our securities lawyers focus on cases involving stock manipulation, securities fraud, investments fraud, shareholder rights violations, and securities arbitration.

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