This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Shuman Law Firm Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Lone Pine Resources, Inc.

The Shuman Law Firm announces that all purchasers of the common stock of Lone Pine Resources, Inc. (“Lone Pine” or the “Company”) (NYSE: LPR) pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with the Company’s May 26, 2011 initial public offering (the “IPO”), have until September 4, 2012 to file a motion with the Court to be appointed as Lead Plaintiff. The securities fraud class action lawsuit was filed in the United States District Court for the Southern District of New York.

Lone Pine is an independent oil and gas exploration, development and production company which operates primarily in Canada. The Company’s operations include the Western Canada Sedimentary Basin, including fields in the Deep Basin and the Evi area in the Peace River Arch. The Complaint alleges that the Registration Statement and Prospectus failed to disclose that the Company had already experienced several significant events, which in the Prospectus had only been identified as potential risk factors, including significantly increased costs and disruption in production volumes attributed to a major pipeline rupture in the Evi area in late April 2011 and a large forest fire in the same area in mid-May.

On August 2, 2011, in a press release announcing Lone Pine’s second-quarter 2011 financial results, the Company noted that while the oil price differential realized in second quarter 2011 had increased 15% compared to the first quarter, it was “negatively affected by a sales pipeline disruption in the Evi area in late April that required [oil] volumes to be trucked to market.” Following this news, the price of Lone Pine common stock declined over the next several days almost 30% from the IPO price, closing at $9.21 per share on August 11, 2011.

If you purchased Lone Pine common stock pursuant or traceable to the Company’s May 26, 2011 initial public offering, you may move the Court, no later than September 4, 2012 to serve as Lead Plaintiff; however, you must meet certain legal requirements. A Lead Plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs