Star Exploration Receiver Pitches $1M Settlement Deal

Law360, New York (April 22, 2011, 12:12 PM EDT) -- The receiver for Star Exploration Inc. asked a federal judge in Texas on Thursday to approve a $1 million settlement with securities regulators after an investigation showed the owner of the oil prospector illegally solicited and spent his investors' money.

Court-appointed receiver Kelly M. Crawford, of the Dallas law firm Scheef & Stone LLP, asked Judge Reed C. O'Connor to set a May 9 hearing to go over the deal, which would include the dismissal of Texas law fraud claims in a second lawsuit against companies...
To view the full article, register now.