Last week a judgment was entered against Striker Petroleum, LLC in US District Court. Striker is a limited liability company based out of Frisco, Texas involved in acquiring oil and gas properties with the intent to increase production. The company, however, was charged in an Securities and Exchange Commission (SEC) investigation with perpetrating multiple wrongdoings.
The judgment against Striker and its two main officers, Mark Roberts and Christopher Pippin, calls for Striker to be disgorged of its ill-gotten gains. Further, the judgment seeks to impose prejudgment interest as well as civil penalties. The actual amount Striker will be charged, and consequently, how much investors will get back, however, remains unclear. An asset freeze has been imposed and a court appointed receiver is currently reviewing the resources held by Striker with the hope that investors will eventually recoup at least some of their initial investment.
The settlement does not require Striker to admit or deny any wrongdoing. For more information on this situation, please see our current investigation.
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