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Petroleum

Triton Energy Class Action Lawsuit Filed in United States District Court

Strategic Insights

— 1 min read

A class action lawsuit has been filed on behalf of all persons who purchased Triton Energy Limited common stock between March 30, 1998, and July 17, 1998, alleging that the company and its officers and directors artificially inflated the stock price during this period. The lawsuit seeks to recover damages for class members and was filed in the United States District Court for the Eastern District of Texas. Patton Haltom, a law firm based in Texarkana, Texas, is representing the plaintiffs and has experience in complex litigation.

Key Takeaways:

  • A class action lawsuit was filed against Triton Energy Limited and its officers and directors, alleging violations of Sections 10(b) and 20(a) of the Securities and Exchange Act of 1934.
  • The lawsuit claims that the defendants artificially inflated the price of Triton common stock during the period from March 30, 1998, to July 17, 1998, causing class members to purchase the stock at inflated prices.
  • The complaint, as amended, charges the defendants with misleading and deceiving investors about the company's financial situation.
  • Plaintiffs seek to recover damages on behalf of class members and are represented by Patton Haltom, a law firm based in Texarkana, Texas.
  • Patton Haltom has experience in complex litigation and has filed multiple securities class actions in the United States District Courts.

Statistics:

  • 598CV256: the Civil Action number assigned to the lawsuit in the United States District Court for the Eastern District of Texas, Texarkana Division.
  • March 30, 1998 to July 17, 1998: the Class Period during which the alleged violations occurred.
  • 60 days: the time limit for class members to move the Court to serve as lead plaintiff of the Class.
  • 903/791-2212: the phone number to contact Patton Haltom for further information about the lawsuit.

Sources:

  • Patton, Haltom, Roberts, McWilliams & Greer, L.L.P., Press Release, August 3, 1998, BUS15026293.
  • United States District Court for the Eastern District of Texas, Texarkana Division, Civil Action No. 598CV256.

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