Delta Petroleum Shareholders Drill Execs With New Suit

Law360, New York (April 20, 2012, 6:42 PM EDT) -- A Delta Petroleum Corp. shareholder hit three top executives Wednesday with a proposed class action claiming they deceived the public into purchasing stock in the now-bankrupt oil and gas exploration company at artificially inflated prices.

Chairman Daniel J. Taylor, CEO Carl E. Lakey and Chief Financial Officer Kevin K. Nanke misled investors by making false statements and withholding negative facts about the true state of Delta's finances, according to the suit filed in Colorado federal court by George Darwin.

The Denver-based oil company filed for Chapter...
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