NEW YORK, Jan. 12, 2017 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Dakota Plains Holdings, Inc. (“Dakota Plains” or the “Company”) (OTCMKT:DAKP) and certain of its officers, and is on behalf of purchasers of Dakota Plains securities from March 23, 2012 and August 15, 2016 inclusive (the “Class Period”). Such investors are advised to join this case by visiting the firm’s site: http://www.bgandg.com/dakp.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
The Complaint that throughout the Class Period, Dakota Plains made false and/or misleading statements and/or failed to disclose that: (1) Dakota Plains did not disclose that Ryan Gilbertson and Michael L. Reger, co-founders of a different Dakota Plains company, had true control of Dakota Plains’ business and operations; (2) that the Company and its management caused harm to Dakota Plains investors, as it worked with Gilbertson and Reger to misappropriate Dakota Plains’ assets for Gilbertson and Reger’s own benefit; (3) that Dakota Plains did not have effective and adequate internal control; and (4) consequently, Dakota Plains’ public statements about its business, operations and prospects were materially false and misleading at all relevant times.
On October 31, 2016, the SEC announced that it charged Ryan Gilberston, 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 also stated that Michael Reger, the Company’s co-founder, agreed to pay close to $8 million to settle other charges against him in connection with the manipulation of Dakota Plains’ stock price.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/dakp or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Dakota Plains you have until February 14, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.