Quest Resource Corporation - Securities Class Action

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Quest Resource Corporation Summary: According to a law firm press release dated September 5, 2008, a class action complaint has been filed against the company and certain current and former officers and directors. The Complaint alleges violations of Section 11 and Section 15 of the Securities Act of 1933, including allegations of material misrepresentations and omissions in Quest's Registration Statement and Prospectus issued in connection with the Initial Public Offering ("IPO") on November 7, 2007. The class period begins with the IPO on November 7, 2007 and continues through August 25, 2008.

Quest Energy and certain of its officers and a controlling entity are charged with including, or allowing the inclusion of, materially false and misleading statements in the Registration Statement and Prospectus issued in connection with the Company's IPO, in violation of the Securities Act of 1933. In particular, despite raising $150 million in its IPO, Quest Energy failed to properly disclose related party transactions between its former CEO and an entity he controlled. On August 25, 2008 Quest Energy announced the resignation of CEO Jerry Cash after the Oklahoma Department of Securities' inquiry concerning, among other issues, questionable transfers of Quest Energy funds to an entity Mr. Cash controlled. The Company announced the creation of a special committee to conduct an internal investigation. After these announcements, the price of Quest Energy shares has fallen dramatically.

On December 29, 2008, an Order of Consolidation was entered by the court consolidating all parallel actions.

On September 24, 2009, an order granting lead plaintiff and lead counsel was entered by the court.

On November 3, 2009, the Court held a status conference in this matter. At the status conference, the Court granted lead plaintiffs’ unopposed request to file separate consolidated amended complaints. Accordingly, the Court ORDERS that all pleadings and filings for the Quest Energy Class be filed under Friedman v. Quest Energy Partners, LP, et al., case no. CIV-08-936-M and all pleadings and filings for the Quest Resource Class be filed under Jents v. Quest Resource Corporation, et al., case no. CIV-08-968-M.

On Novemeber 10, 2009, a Consolidated Complaint against Quest Energy Partners LP was filed by the Lead Plaintiff Groups in this action.

On August 13, 2010, pursuant to an Order of the United States District Court for the Western District of Oklahoma, a preliminary approval of settlement was found to be fair, reasonable and adequate.

INDUSTRY CLASSIFICATION:
SIC Code: 1311
Sector: Basic Materials
Industry: Non-Metallic Mining

COMPANY/ISSUER NAME:	Quest Resource Corporation
COMPANY/ISSUER TICKER:	QRCP
COMPANY WEBSITE:	http://www.qrcp.net

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Michael Friedman, et al. v. Quest Energy Partners LP, et al.

COURT: W.D. Oklahoma	DOCKET NUMBER: 08-CV-00936
JUDGE NAME: Hon. Vicki Miles-LaGrange
DATE FILED: 09/05/2008	SOURCE:
CLASS PERIOD START: 11/07/2007	CLASS PERIOD END: 08/25/2008
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Federman & Sherwood (Oklahoma City) 120 North Robinson, Suite 2720, Oklahoma City, OK, 73102 (voice) 405-235-1560, (fax) , wfederman@aol.com The Rosen Law Firm, P.A. (New York) 350 Fifth Avenue, Suite 5508, New York, NY, 10118 (voice) 212.686.1060, (fax) 212.202.3827, lrosen@rosenlegal.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint
Type: Complaint		Date on the document: 9/5/2008
US District Court Civil Docket
Type: Docket		Date on the document: 9/18/2008
Order
Type: Order of Consolidation		Date on the document: 12/29/2008
Order
Type: Order Appointing LP/LC		Date on the document: 09/24/2009
U.S. District Court Civil Docket
Type: Docket		Date on the document: 09/24/2009
Order
Type: Order		Date on the document: 11/04/2009

REFERENCE COMPLAINT

Michael Friedman, et al. v. Quest Resource Corporation, et al.

COURT: W.D. Oklahoma	DOCKET NUMBER: 08-CV-00936
JUDGE NAME:
DATE FILED: 11/10/2009	SOURCE:
CLASS PERIOD START: 11/07/2007	CLASS PERIOD END: 08/24/2008
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Abraham, Fruchter & Twersky (New York, One Pennsylvania Plaza) One Pennsylvania Plaza, Suite 1910, New York, NY, 10119 (voice) 212.279.5050, (fax) 212.279.3655, JFruchter@FruchterTwersky.com Federman & Sherwood (Oklahoma City) 10205 N. Pennsylvania, Oklahoma City, OK, 73120 (voice) 405.235.1560, (fax) 405.235.1560, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Complaint Of Quest Energy Partners LP Lead Plaintiff Group
Type: Complaint		Date on the document: 11/10/2009
U.S. District Court Civil Docket
Type: Docket		Date on the document: 02/03/2010
Preliminary Approval Order
Type: Order		Date on the document: 08/13/2010
U.S. District Court Civil Docket
Type: Docket		Date on the document: 08/13/2010
Order Authorizing Distribution Of Net Settlement Fund
Type: Order		Date on the document: 11/01/2011
U.S. District Court Civil Docket
Type: Docket		Date on the document: 11/01/2011

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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