Sun River Energy was accused by multiple shareholders of attempting to manipulate the market for its common stock by refusing to remove the restrictive legends from their certificates following the expiration of the holding period required by Rule 144 of the Securities Act of 1933.
Tag: 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.