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.




Case Information

Case Title

Securities and Exchange Commission v. Shields et al

Case Number




Nature of Suit



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.