ATP Oil & Gas Corporation (OTC: ATPAQ) Investor Securities Class Action Lawsuit 05/24/2013

If you purchased ATP Oil & Gas Corporation 11.875% Senior Second Lien Exchange Notes pursuant and/or traceable to ATP Oil & Gas Corporation's December 16, 2010 Exchange of the Notes, you might have certain options and should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
ATP Oil & Gas
Case Name: 
ATP Oil & Gas Shareholder Class Action Lawsuit 05/24/2013
Case Status: 
Lawsuit Filed
Affected Securities
OTC: ATPAQ
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
05/24/2013
Court of Filing: 
U.S. District Court for the Eastern District of Louisiana
Deadline To File for Lead: 
07/23/2013
Case Dismissed: 
08/14/2015
Summary: 

December 21, 2015 - The lead plaintiffs filed a notice of appeal.

August 14, 2015 - The court granted defendants' motion to dismiss with prejudice.

March 6, 2015 - The defendants filed a motion to dismiss.

January 20, 2015 - The lead plaintiffs filed a third amended complaint.

November 21, 2014 - The court granted defendants' motion to dismiss without prejudice with leave to amend.

November 3, 2014 - The lead plaintiffs filed a second amended complaint.

September 26, 2014 - The court granted defendants' motion to dismiss in part with prejudice and in part without prejudice with leave to amend.

March 27, 2014 - Defendants filed a motion to dismiss.

February 18, 2014 - The lead plaintiffs filed another amended consolidated complaint.

December 6, 2013 - Co-lead plaintiffs and co-lead counsel were appointed.

November 8, 2013 - More cases were consolidated.

November 5, 2013 - Another lead plaintiff motion was filed.

October 30, 2013 - Another lead plaintiff motion was filed.

October 24, 2013 - Another lead plaintiff motion was filed.

October 16, 2013 - Cases were consolidated.

October 10, 2013 - The lead plaintiff filed an amended complaint.

August 15, 2013 - Lead plaintiff and lead counsel were appointed.

July 29, 2013 - Another lead plaintiff motion was filed.

July 24, 2013 - Another lead plaintiff motion was filed.

July 23, 2013 - Lead plaintiff motion was filed.

May 24, 2013 - An investor in ATP Oil & Gas Corporation 11.875% Senior Second Lien Exchange Notes filed a lawsuit in the U.S. District Court for the Eastern District of Louisiana over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff alleges that defendants allegedly made false and/or misleading statements and/or failed to disclose material adverse facts concerning the impact that two successive United States Department of the Interior moratoria for deepwater drilling operations in the Gulf of Mexico had on ATP Oil & Gas Corporation's operations and revenues, and that ATP Oil & Gas Corporation's alleged breach of certain credit agreements by engaging in "disguised financing" arrangements that were designed to evade the requirements of such credit agreements.

ATP Oil & Gas Corporation reported that its annual Total Revenue increased from $298.49 million in 2009 to $687.21 million in 2011. However, its Net Loss increased from $48.96 million in 2009 to $337.55 million in 2010 and $191.90 million in 2011.

On August 17, 2012, ATP Oil & Gas Corporation announced that it was filing for Chapter 11 bankruptcy.

Shares of ATP Oil & Gas Corporation (OTC: ATPAQ) declined from as high as $22.64 per share in April 2010 to as low as 0.04 per share in Feb 2013.

On May 28, 2013, ATP Oil & Gas Corporation (OTC: ATPAQ) shares closed at $0.0757 per share.