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Case Status:    SETTLED
On or around 05/11/2004 (Date of order of final judgment)

Filing Date: November 18, 2002

By the Order and Final Judgement, dated May 10, 2004, from U.S. District Judge Thomas A. Varlan of the US District Court for the Eastern District of Tennessee, the case was settled in a manner that was in favor of Plaintiffs.

According to a Press Release dated April 7, 2004, a hearing will be held before the Honorable Thomas A. Varlan on April 29, 2004 to determine whether the action should be certified as a class action, whether a proposed settlement of (i) 129,870 shares of Tengasco common stock and 100,000 shares of Miller Petroleum, Inc. ("Miller") common stock from defendant Ratliff, and (ii) 300,000 three-year warrants to purchase restricted Tengasco stock at $1 per share, 150,000 shares of Miller common stock and $37,500 cash from defendant Tengasco, should be approved by the Court as fair, reasonable and adequate, and to consider the application of Plaintiff's Counsel for attorneys' fees and reimbursement of expenses. The stock and warrants are to be issued exempt from the registration requirements pursuant to Section 3(a)(10) of the Securities Act of 1933.

The complaint alleges that Tengasco and its Chief Executive Officer violated the Securities Exchange Act of 1934 by making materially false and misleading statements concerning hydrocarbon production, drilling success and prospects of Tengasco's Swan Creek Field and also made materially false and misleading statements concerning Tengasco's earnings potential during the Class Period. The defendants were motivated to make such false and materially misleading statements in order to secure a multi-million dollar loan from Bank One; certain of the proceeds of which were used to pay off loans made by Tengasco insiders. The complaint alleges that as a result of these false and misleading statements, the price of Tengasco's shares were artificially inflated throughout the Class Period causing plaintiff and the Class to suffer damages.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil & Gas Operations
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: TGC
Company Market: American SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. Tennessee
DOCKET #: 02-CV-644
JUDGE: Hon. Curtis Collier
DATE FILED: 11/18/2002
CLASS PERIOD START: 08/01/2001
CLASS PERIOD END: 04/23/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Gardy, LLP (New York)
    212 East 39th Street, Abbey Gardy, LLP (New York), NY 10016
    212.889.3700 · info@abbeygardy.com
  2. Robert C. Susser
    6 East 43rd Street, Robert C. Susser, NY 10017-4609
    212.808.0298 · classaction@mail.com
No Document Title Filing Date
COURT: E.D. Tennessee
DOCKET #: 02-CV-644
JUDGE: Hon. Curtis Collier
DATE FILED: 03/31/2003
CLASS PERIOD START: 08/01/2001
CLASS PERIOD END: 04/23/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Gardy, LLP (New York)
    212 East 39th Street, Abbey Gardy, LLP (New York), NY 10016
    212.889.3700 · info@abbeygardy.com
  2. Robert C. Susser
    6 East 43rd Street, Robert C. Susser, NY 10017-4609
    212.808.0298 · classaction@mail.com
No Document Title Filing Date