id: 332, Created by Stan Vick, Scout
How it works?
- Company agreed to settle with investors to avoid further litigation
- We prepare documents and claim payout for you
Claim deadline for this case already passed by, but we can still try and file for compensation for you
S.D. New YorkCourt
23 Mar 2012Class period Start
16 Aug 2016Class period End
25 Oct 2022Claim 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.
Jon D. Gruber
Abraham, Fruchter & Twersky LLP, Cera LLP (SF)
Hon. Jed S. Rakoff
Court hearing date
04 October 2022
+$13,950,000Total Settlement Amount