NEW YORK, Jan. 25, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed against Dakota Plains Holdings, Inc. (“Dakota Plains” or the “Company”) (OTC:DAKP) in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Dakota Plains between March 23, 2012 through August 15, 2016 (the “Class Period”), inclusive. Those investors who purchased shares pursuant to the Secondary Public Offering (“SPO”) on December 11, 2013 are included within the class period and are urged to reply as soon as possible.
Investors who have incurred losses in Dakota Plains Holdings, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may also review the filed complaint and obtain additional information concerning the action on our website, www.whafh.com.
If you purchased shares of Dakota Plains Holdings, Inc. within the class period and suffered losses, you may, no later than February 14, 2017 , request that the Court appoint you lead plaintiff of the proposed class.
The filed complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that Ryan Gilbertson and Michael L. Reger, co-founders of a different Dakota Plains company, had control of Dakota Plains’ business and operations, that Dakota Plains and its management worked with Gilbertson and Reger to misuse the Company’s assets for Gilbertson and Reger’s sole benefits, and that Dakota Plains did not maintain effective and adequate internal control.
On December 21, 2016, Dakota Plains Holdings, Inc. announced that it and six of its wholly owned subsidiaries filed voluntary Chapter 11 petitions in the United States Bankruptcy Court for the District of Minnesota (the "Bankruptcy Court").
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com , or visit our website at www.whafh.com.
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Patrick Donovan, Esq. Gregory Stone, Director of Case and Financial Analysis Email: gstone@whafh.com, Donovan@whafh.com or classmember@whafh.com Tel: (800) 575-0735 or (212) 545-4774
