San Diego, CA -- (SBWIRE) -- 01/22/2014 -- An investigation on behalf of investors in shares of Continental Resources, Inc. (NYSE:CLR) was announced concerning whether certain Continental Resources officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who purchased shares of Continental Resources, Inc. (NYSE:CLR) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554
The investigation by a law firm concerns, among other things, whether certain Continental Resources officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Late last year Lawsuits were filed by mineral owners against several energy companies, including one against Continental Resources, Inc, seeking millions of dollars in damages for what they say are lost royalty payments to mineral owners from natural gas flared by energy companies going back as far as six years. The plaintiffs claim that the North Dakota law limits the flaring of natural gas during the first year of production and after that those companies must apply to the North Dakota Industrial Commission for an exemption and if they fail to do so, they must pay royalties and state taxes. The plaintiffs allege that companies have been in violation of the limits set for the first year and have not sought exemptions.
Continental Resources, Inc. reported that its annual Total Revenue rose from over $1.67 billion in 2011 to over $2.41 billion in 2012 and that its respective Net Income increased from $429.07 million to $739.38 million.
Shares of Continental Resources, Inc. grew from $14.34 per share in March 2009 to as high as $121 per share in October 2013.
On Jan. 17, 2014, NYSE:CLR shares closed at $108.46 per share.
Those who purchased shares of Continental Resources, Inc. (NYSE:CLR), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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