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DAKP.US
id: 332
It is still possible to file a late claim. The court will decide whether to accept late claims or not.
S.D. New York
Court
23 Mar 2012
Class period Start
16 Aug 2016
Class period End
25 Oct 2022
Claim deadline
Gruber v. Gilbertson, et al.

Dakota Plains agreed to pay $13.95 million to settle a securities class action lawsuit accusing the Company of multiple felonies.

The lawsuit alleged that Dakota and its Leaders made false and/or misleading statements and/or failed to disclose that:
  • They had actual control of Dakota Plains’ business and operations;
  • Dakota Plains and its management colluded to misappropriate Dakota Plains’ assets for personal gains at the expenses of Dakota Plains investors;
  • Dakota Plains lacked effective and adequate internal control;
As a result, the Company's public statements about business, operations, and prospects were materially false and misleading at all relevant times and led to investors suffering damages.

Dakota Plains agreed to settle with investors to avoid further litigation.
Case Status
Accepting Late Claims
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Plaintiffs
Jon D. Gruber
Attorneys
Abraham, Fruchter & Twersky LLP, Cera LLP (SF)
Judge
Hon. Jed S. Rakoff
Administrator
Angeion
Court hearing date
04 October 2022
Trades matching type
FIFO
+$13,950,000
Cash Settlement Amount

Dakota Plains Holdings, Inc.

DELISTED - Dakota Plains Holdings, Inc. (Dakota Plains), formerly MCT Holding Corporation, is engaged in developing and owning transloading facilities, marketing and transporting of crude oil and r...

    Ticker
    DAKP.US
    CIK
    00001367311
    Sector
    Other
    Industry
    Other
    Country
    USA
    Address
    294 Grove Lane East, Wayzata, 55391, United States