Case Page

 

Case Status:    DISMISSED    
On or around 02/03/2016 (Other)

Filing Date: May 24, 2013

According to the law firm press release, ATP is engaged in the acquisition, development, and production of oil and natural gas properties. The Company seeks to acquire and develop properties with proven undeveloped reserves in the Gulf of Mexico and North Sea that are economically attractive, but not strategic to, major or large independent exploration-oriented oil and gas companies. ATP also has licenses for exploration in the Mediterranean Sea. On August 17, 2012, the Company announced that it was filing for Chapter 11 bankruptcy. The complaint alleges that the defendants misrepresented or failed to disclose material adverse facts in their publicly filed Exchange materials. Specifically, ATP made false and/or misleading statements and/or failed to disclose material adverse facts concerning: (1) the impact that two successive United States Department of the Interior moratoria for deepwater drilling operations in the Gulf of Mexico had on the Company's operations and revenues; and (2) the Company's breach of certain credit agreements by engaging in "disguised financing" arrangements that were designed to evade the requirements of such credit agreements.

On August 15, 2013, Plumbers and Pipefitters National Pension Fund was appointed Lead Plaintiff and their selection of Robbins Geller Rudman & Dowd LLP was appointed lead plaintiff in this action.

On October 10, 2013, an Amended Complaint for Violation of the Federal Securities Laws was filed by the lead plaintiffs against the defendants.

On December 6, 2013, additional investors were appointed as co-lead plaintiff and their selections of law firms were appointed as co-lead counsel.

On February 18, 2014, the plaintiffs filed a Consolidated Class Action Complaint against the defendants alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On September 26, 2014, the Court granted the defendants' motion and dismissed the some of the plaintiff's claims with prejudice and others without prejudice with leave to amend.

On November 3, 2014, the plaintiff filed a Second Amended Complaint for Violations of the Federal Securities Laws.

On November 21, 2014, the Court granted the defendants' motion to dismiss plaintiffs' Exchange Act and Section 20(a) claims without prejudice and with leave to amend within 21 days of the Order and Reasons. An Amended Complaint was filed on January 20, 2015.

On August 14, 2015, the Court issued an Order granting defendants' motions and dismissing this case with prejudice. A Notice of Appeal of this decision was filed on December 21, 2015.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: ATPAQ
Company Market: NASDAQ
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. Louisiana
DOCKET #: 13-CV-03935
JUDGE: Hon. Carl Barbier
DATE FILED: 05/24/2013
CLASS PERIOD START: 12/16/2010
CLASS PERIOD END: 05/24/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Lemmon Law Firm
    P O Box 904, Lemmon Law Firm, LA 70057
    (985) 783-6789 (985) 783-1333 · court@lemmonlawfirm.com
  2. Scott + Scott LLP (NY)
    405 Lexington Avenue, 40th Floor, The Chrysler Building, Scott + Scott LLP (NY), NY 10174
    (212) 223-6444 (212) 223-6444 ·
No Document Title Filing Date
COURT: E.D. Louisiana
DOCKET #: 13-CV-03935
JUDGE: Hon. Carl Barbier
DATE FILED: 01/20/2015
CLASS PERIOD START: 12/16/2010
CLASS PERIOD END: 08/17/2012
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Barrasso,Usdin, Kupperman, Freeman & Sarver, LLC
    LL&E Tower 909 Poydras St. Suite 2400 , Barrasso,Usdin, Kupperman, Freeman & Sarver, LLC , LA 70112
    504-589-9700 ·
  2. Federman & Sherwood (Oklahoma City)
    10205 N. Pennsylvania, Federman & Sherwood (Oklahoma City), OK 73120
    405.235.1560 405.235.1560 ·
  3. Wolf Popper, LLP
    845 Third Avenue, Wolf Popper, LLP, NY 10022-6689
    877.370.7703 212.486.2093 · IRRep@wolfpopper.com
No Document Title Filing Date