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Case Status:    DISMISSED    
On or around 02/14/2022 (Date of order of final judgment)

Filing Date: March 17, 2020

According to the Complaint, Gulfport Energy Corporation engages in the exploration, development, acquisition, and production of natural gas, crude oil, and natural gas liquids in the U.S.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business and operations. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) a material weakness existed in Gulfport’s internal control over financial reporting; (ii) accordingly, Gulfport’s disclosure controls and procedures were ineffective; (iii) as a result, Gulfport’s financial statements contained multiple misstatements; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On December 10, 2020, the Company Issuer filed a Suggestion of Bankruptcy with the Court. The Court issued an Order appointing Lead Plaintiff and Counsel on February 8, 2021. Lead Plaintiff filed an amended Complaint on April 1. The Company Issuer Defendant was dropped from the amended Complaint.

On July 8, Lead Plaintiff filed a second amended Complaint. The individual Defendants filed a Motion to Dismiss the second amended Complaint on July 29. On January 11, 2022, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint.

On February 11, 2022, Lead Plaintiff notified the Court of their election not to file an amended Complaint and their intention to appeal the Dismissal Order of January 11. The Court directed the Clerk of the Court to issue a final judgment and close the action. On February 14, the Court entered final judgment.

Lead Plaintiff filed a Notice appealing the Court's Dismissal Order on March 10, 2022. On November 17, the Court of Appeals affirmed the District Court's judgment.

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