Energy Investor May Be Immune To SEC: Judge

Law360, New York (August 29, 2011, 4:23 PM EDT) -- A Colorado federal judge on Friday struck a blow to the U.S. Securities and Exchange Commission's $5 million fraud suit against an energy investment company, saying oil and gas wells operated by Geodynamics Inc. may fall outside the commission's oversight.

In denying the SEC's request for a temporary restraining order, Judge Blackburn agreed with Geodynamics that its wells were joint ventures and not securities, and therefore immune to SEC regulation.

Geodynamics — whose CEO Jeffory Shields is accused of spending more than $5 million of investors'...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities and Exchange Commission v. Shields et al


Case Number

1:11-cv-02121

Court

Colorado

Nature of Suit

Securities/Commodities

Judge

Robert E. Blackburn

Date Filed

August 15, 2011

Law Firms

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.