Case Page

 

Case Status:    DISMISSED    
On or around 02/05/2010 (Court's order of dismissal)

Filing Date: October 23, 2007

The original complaint alleges that the Defendants have been operating a scheme to defraud investors involving the offer and sale of unregistered securities, through unregistered broker-dealers, using the interstate mails and other means of interstate commerce in violation of federal and state securities laws. In furtherance of their scheme, and to aid in inducing the Plaintiff to invest, the Defendants made oral and written false, misleading, and fraudulent statements to the Plaintiff in violation of federal and state securities laws, state statutory laws, and state common law, filed false reports with the United States Securities and Exchange Commission, fraudulently concealed their actions from the Plaintiff, unlawfully converted the Plaintiff's investment funds, and breached their contract with the Plaintiff.

On November 7, 2007, the plaintiff filed an Amended Complaint. The defendants responded by filing various motions to dismiss in November and December 2007 as well as on February 22, 2008. On March 25, 2008, U.S. District Judge Sam A. Lindsay ordered fifteen actions to be consolidated. On April 2, 2008, the court granted two motions for leave to file second amended complaint. On April 10, 2008, another related case was also consolidated. On April 18, 2008, the Court entered the Order allowing the motions to file a second amended complaint as a result of the recent consolidation of several cases. Accordingly, the court denied without prejudice the motions to dismiss that were filed before these cases were consolidated. On June 2, 2008, a Consolidated Complaint was filed, and on June 10, 2008, an Amended Consolidated Complaint was filed. On July 7, 2008, an individual defendant filed a motion to dismiss the Consolidated Complaint. On July 21, 2008, a Third Party Complaint was filed. On October 1, 2008, the defendants filed an Amended Third Party Complaint. On October 9, 2008, a motion to dismiss the Amended Third Party Complaint was filed.

On October 19, 2008, all plaintiffs filed a motion to join plaintiffs. The motion contained a proposed Consolidated Complaint. On November 14, 2008, the motion to join plaintiffs was granted. On November 17, 2008, a Consolidated Complaint was filed. On January 14, 2009, the Court denied as moot the previously pending motions to dismiss the Consolidated Complaint and the motion to dismiss the Third Party Complaint.

On May 14, 2009, EnergyTec filed a notice of suggestion of bankruptcy. As a result, the next day, Judge Sam A. Lindsay issued the order staying the plaintiff's claims against defendant EnergyTec, Inc. only. On June 26, 2009, Judge Lindsay denied the motion to dismiss the Third Party Complaint. On July 10, 2009, Judge Lindsay further denied the motion to dismiss the Consolidated Complaint. On July 27, 2009, the defendants filed a motion for default judgment.

On February 19, 2010, the case was administratively closed.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol:
Company Market: Privately Traded
Market Status: Privately Held

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: N.D. Texas
DOCKET #: 07-CV-01782
JUDGE: Hon. Sam A. Lindsay
DATE FILED: 10/23/2007
CLASS PERIOD START: 11/01/2005
CLASS PERIOD END: 10/23/2007
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glast, Phillips & Murray, P.C.
    2200 One Galleria Tower; 13355 Noel Road, L.B. 48, Glast, Phillips & Murray, P.C., TX 75240-1518
    972.419.8300 972.419.8300 ·
No Document Title Filing Date
COURT: N.D. Texas
DOCKET #: 07-CV-01782
JUDGE: Hon. Sam A. Lindsay
DATE FILED: 11/17/2008
CLASS PERIOD START: 11/01/2005
CLASS PERIOD END: 10/23/2007
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glast, Phillips & Murray, P.C.
    2200 One Galleria Tower; 13355 Noel Road, L.B. 48, Glast, Phillips & Murray, P.C., TX 75240-1518
    972.419.8300 972.419.8300 ·
No Document Title Filing Date
No Document Title Filing Date