Coral Capital Partners takes a look at a recent Delaware Court ruling in favor of Looser Pays ByLaws, and provides our thoughts and experience on how they can benefit corporate governance and help protect shareholders.
Tag Archive for Sun River Energy
Sun River Energy is an oil & gas firm that is incorporated in the state of Colorado and has its headquarters in Dallas, Texas. The company’s shares were formerly traded on the Over the Counter market, until the SEC suspended trading in them in the spring of 2014. Since 2008, the company has been embroiled in a large number of lawsuits, a significant number of these lawsuits have been with shareholders of the company. In January of 2011, Sun River Energy initiated litigation against shareholders Coral Capital Partners, Erik Nelson, and Steve Stephens. The litigation was removed to Federal Court in the Colorado District. Case No. 11-CV-00198-MSK-MEH. On October 23rd, 2013 Coral Capital Partners, et al prevailed at trial and received a judgment in its favor against Sun River Energy.
Trial Brief – Uniform Commerical Code: UCC 8-401
As a general rule, simple disputes involving securities relating to Article 8 are normally litigated in state courts, which can be far more difficult to research than the federal court system. Based upon our research, it appears that litigation involving Article 8 of the UCC in the Federal Court system is relatively rare. As result, we have decided to publish the Trial Brief of our litigation against Sun River Energy, Inc. involving a dispute involving Article 8, Section 401 of the UCC. Hopefully, this provide some useful information to anyone who is involved in a dispute over the removal of a restrictive legend and Article 8, Section 401, UCC 8-401.
Coral Capital Partners Victorious in Sun River Energy Litigation
Coral Capital Partners details the history and the outcome of its litigation with Sun River Energy, Inc. Civil Action No. 11-CV-00198-MSK-MEH In early 2011 Sun River Energy attempted to prevent us from selling shares of its common stock we were legally issued and entitled to sell. This litigation should have been a simple issue regarding UCC 8-403 to be decided by the court. However, Sun River Energy struck first with numerous frivolous and meritless claims, and we feel compelled to set the record straight.