San Diego, CA -- (SBWIRE) -- 06/06/2012 -- A deadline is coming up on June 18, 2012 in the lawsuit filed for investors in Delta Petroleum Corp. over alleged securities laws violations by certain officers and directors in connection with certain financial statements.
Investors with a substantial investment in Delta Petroleum Corp. shares between November 9, 2010 and November 9, 2011, should get active before the Deadline that is coming up on June 18, 2012, and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the District of Colorado the plaintiff alleges on behalf of purchasers of Delta Petroleum Corp. (PINK:DPTRQ) publicly traded securities during the period between November 9, 2010 and November 9, 2011, that certain of Delta’s officers and directors violated the Securities Exchange Act of 1934.
Specifically the plaintiff claims that between November 9, 2010 and November 9, 2011, defendants issued allegedly materially false and misleading statements regarding Delta Petroleum’s business and financial results and as a result of defendants’ statements, Delta Petroleum’s stock traded at artificially inflated reaching a high of $11.70 per share on February 28, 2011.
On November 9, 2011, Delta announced is third quarter 2011 financial results. The Company reported a net loss of ($429.4) million, or ($15.40) diluted earnings per share, for the quarter ended September 30, 2011.
Delta stock fell $1.34 per share to close at $0.71 per share on November 10, 2011, a one-day decline of 65% on volume of nearly 4.5 million shares.
Shortly after that Delta Petroleum Corp filed for bankruptcy protection on December 16, 2011.
DPTRQ shares traded on May 11, 2012 as low as $0.089 per share.
Those who purchased shares of Delta Petroleum Corp. (PINK: DPTRQ) between November 9, 2010 and November 9, 2011, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego