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Dakota Plains Holdings, Inc. (DAKPQ)

OTC:DAKPQ

Summary

SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Dakota Plains Holdings, Inc. To Contact The Firm Before Lead Plaintiff Deadline

NEW YORK, January 13, 2017 / Globenewswire/ --  Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Dakota Plains Holdings, Inc (“Dakota Plains” or the “Company”) (OTC:DAKPQ) of the February 14, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Dakota Plains stock or options between March 23, 2012 and August 15, 2016 (the “Class Period”).  The case, Deardeuff et al v. Dakota Plains Holdings, Inc. et al, No. 16-cv-09727 was filed on December 16, 2016, and has been assigned to Judge William H. Pauley, III.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by engaging in a potentially illegal stock manipulation scheme.

After a series of disclosures spanning several years, on October 31, 2016, the Securities and Exchange Commission (“SEC”) announced that it charged Ryan Gilbertson, co-founder of Dakota Plains, “with manipulating [Dakota Plains'] stock price and concealing his control of the company to attain lucrative financial payouts.”  The SEC claims that Gilbertson directed Dakota Plains’ CEO to offer Gilbertson and the other noteholders bonus “additional payments,” the size of which depended on Dakota Plains’ stock price following the March 23, 2012 reverse merger by which the company went public.  The SEC also stated that Michael Reger, another co-founder, agreed to pay close to $8 million to settle other charges against him in connection with the manipulation of Dakota Plains's stock price.  Throughout the Class Period, the Company stock has declined severely, causing damage to investors.

 

Take Action

If you invested in Dakota Plains stock or options between March 23, 2012 and August 15, 2016 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Dakota Plains’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Dakota Plains Holdings, Inc. (DAKPQ)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 01/13/2017

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