Case Page

 

Case Status:    SETTLED
On or around 06/19/2017 (Ongoing date of last review)

Filing Date: November 13, 2015

According to the law firm press release, New Source Energy Partners L.P. is an independent energy partnership engaged in the production of its onshore oil and natural gas properties that extends across conventional resource reservoirs in east-central Oklahoma and in oilfield services that specialize in increasing efficiencies and safety in drilling and completion processes.

On May 5, 2015, New Source initially priced 1.76 million units of the 11% Series A Cumulative Convertible Preferred Units at $25.00 per unit.

On September 28, 2015, prior to the commencement of trading, New Source announced that due to a pending borrowing base deficiency under its revolving credit facility, it would be prevented from paying the quarterly cash distribution on its 11% Series A Cumulative Convertible Preferred units. As a result of this disclosure, the price of the publicly traded New Source 11% Series A Cumulative Convertible Preferred Units closed at $2.18, down $3.62 on the day.

Plaintiffs filed an amended complaint on June 20, 2016.

On June 19, 2017, the parties entered into a Stipulation of Settlement.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil & Gas - Integrated
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: NSLP-A
Company Market: New York 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: S.D. New York
DOCKET #: 15-CV-08954
JUDGE: Hon. Kimba M. Wood
DATE FILED: 11/13/2015
CLASS PERIOD START: 05/05/2015
CLASS PERIOD END: 11/13/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Criden & Love, P.A.
    7301 S.W. 57th Court, Suite 515, Criden & Love, P.A., FL 33143
    305.357.9000 305.357.9050 · klove@cridenlove.com
  2. Nussbaum Law Group, P.C.
    570 Lexington Ave., 19th floor, Nussbaum Law Group, P.C., NY 10022
    (212) 702-7054 ·
  3. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 15-CV-08954
JUDGE: Hon. Kimba M. Wood
DATE FILED: 06/20/2016
CLASS PERIOD START: 05/05/2015
CLASS PERIOD END: 11/13/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
  2. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date