Zeldes Haeggquist & Eck, LLP, a shareholder and consumer rights litigation firm has commenced an investigation into Pacific Coast Oil Trust (“ROYT” or the “Company”) for securities law violations in connection with the Company’s May 8, 2012 initial public offering (“IPO”) and Secondary Offering.
ROYT acquires and holds net profits and royalty interests in oil and natural gas properties located in California. Zeldes Haeggquist & Eck, LLP is investigating whether ROYT omitted material information from investors in connection with its IPO and Secondary Offering. In particular Zeldes Haeggquist & Eck, LLP is investigating whether ROYT and its top executives and officers made false and misleading statements and omitted material information about its cash distributions, capital expenditures and key accounting metrics.
The Company has cut its monthly cash distribution multiple times since the IPO and Secondary Offering, and, as a result, ROYT’s stock price has fallen significantly from the IPO price of $20 per share and the Secondary Offering Price of $17.20 per share to its current price of approximately $13 per share.
What You Can Do
If you own shares of ROYT, you may have legal claims. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Amber L. Eck at (619) 342-8000 or via email at email@example.com.[contact-form-7 404 "Not Found"]