Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the Southern District of New York on behalf of shareholders of Dakota Plains Holdings, Inc. (OTCMKTS: DAKP) who purchased securities between March 23, 2012 and August 15, 2016.
The complaint alleges that during the Class Period the Company made false and/or misleading statements and/or failed to disclose that: (1) Ryan Gilbertson and Michael L. Reger, co-founders of Dakota Plains’ predecessor company, had actual control of Dakota Plains’ business and operations; (2) Dakota Plains and its management colluded with Gilbertson and Reger to misappropriate Dakota Plains’ assets for Gilbertson and Reger’s personal gains at the expenses of Dakota Plains investors; (3) Dakota Plains lacked effective and adequate internal control; and (4) as a result, Defendants’ public statements about Dakota Plains’ business, operations and prospects were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
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.
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