The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Lone Pine Resources, Inc.

Monday, July 02, 2012

Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Lone Pine Resources, Inc.22:00 EDT Monday, July 02, 2012 BENSALEM, Pa. (Business Wire) -- Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of all persons or entities who purchased the common stock of Lone Pine Resources, Inc. (“LPR” or the “Company) (NYSE:LPR) pursuant and/or traceable to the allegedly false and misleading Registration Statement and Prospectus issued in connection with the Company's May 26, 2011 initial public offering (the “IPO”). The lawsuit was originally was filed in the Supreme Court of the State of New York State but was subsequently removed to the United States District Court for the Southern District of New York. LPR engages in the exploration, development and production of oil and gas properties in Canada. The Complaint asserts violations of the federal securities laws against LPR, certain of the Company's executive officers and directors, and the underwriters of the IPO, among others, for issuing allegedly materially misleading statements about the Company's business and financial prospects. Specifically the Complaint alleges that defendants misrepresented and failed to disclose that the Company was experiencing significantly increased costs attributed to a major pipeline rupture and a large forest fire. No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased LPR common stock pursuant or traceable to the Company's IPO commencing May 26, 2011 and wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll-Free at 888-638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com. Law Offices of Howard G. SmithHoward G. Smith, Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com