Oil Execs Must Disgorge $6M Over SEC Fund Scheme Claims

Law360, New York (February 2, 2012, 7:58 PM EST) -- A federal judge on Thursday ordered Rockwell Energy of Texas LLC and its executives to collectively disgorge about $6.2 million in a U.S. Securities and Exchange Commission suit alleging that the oil and gas company deceived investors about the profitability of an energy fund.

U.S. District Judge Keith P. Ellison upheld the SEC's motion for disgorgement in Texas federal court but declined to collect prejudgment interest and third-tier penalties that the SEC requested from Rockwell and its principals, Gregory S. Shindler and Bradley M. James....
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities & Exchange Commission v. Rockwell Energy of Texas, LLC et al


Case Number

4:09-cv-04080

Court

Texas Southern

Nature of Suit

850(Securities/Commodities)

Judge

Judge Keith P Ellison

Date Filed

December 21, 2009

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.