Delta Petroleum Execs Shake Securities Fraud Class Action

Law360, New York (October 02, 2013, 7:12 PM ET) -- Delta Petroleum Corp. dodged on Monday a proposed shareholder class action that accused the now bankrupt oil and gas company’s top executives of defrauding investors by misrepresenting Delta’s financial position so as to artificially inflate stock prices.

U.S. District Judge Christine Arguello dismissed the case Monday, saying the suit failed to specifically identify how statements made by the executives were false or could have misled a reasonable investor, according to the order.

“A corporation’s self-praise about its business strategy plays no serious role in market participants’...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Darwin v. Taylor et al


Case Number

1:12-cv-01038

Court

Colorado

Nature of Suit

Securities/Commodities

Judge

Christine M. Arguello

Date Filed

April 18, 2012


Case Title

Nakkhumpun v. Taylor et al


Case Number

1:12-cv-01521

Court

Colorado

Nature of Suit

Stockholders Suits

Judge

Christine M. Arguello

Date Filed

June 12, 2012

Law Firms

Companies

Government Agencies