Energy Company Cannot Shake Investor Claims Over Failed Oilfield

Mealey's (September 16, 2022, 10:29 AM EDT) -- HOUSTON — A federal magistrate judge in Texas on Sept. 15 recommended that a motion to dismiss filed by an energy company and certain of its senior executives in a securities class action be denied because the lead plaintiffs have sufficiently pleaded an actionable misrepresentation and scienter in alleging that the defendants misstated the economic viability of a Texas oilfield in violation of federal securities law....