Delta Petroleum Securities Fraud Plaintiff Blasts Stay Bid

Law360, New York (May 7, 2012, 10:01 PM EDT) -- The lead plaintiff in a putative securities fraud class action against three Delta Petroleum Corp. executives on Monday blasted the bankrupt oil and gas exploration company's claim that the suit seeks to confiscate debtor property by pursuing the nondebtor executives.

George Darwin told a Delaware bankruptcy court that Delta's motion seeks the “extraordinary remedy” of enjoining the plaintiffs from pursuing securities litigation against nondebtor defendants. In doing so, it maintains, “in the most conclusory fashion and with no evidentiary support,” that the suit seeks property of...
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Case Information

Case Title

Delta Petroleum Corporation


Case Number

1:11-bk-14006

Court

Delaware

Nature of Suit

Date Filed

December 15, 2011


Case Title

Nakkhumpun v. Taylor, et al.,


Case Number

1:12-cv-01038

Court

Colorado

Nature of Suit

Securities/Commodities

Judge

Christine M. Arguello

Date Filed

April 18, 2012

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