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SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Dakota Plains Holdings, Inc. To Contact The Firm Before Lead Plaintiff Deadline

/EIN News/ -- NEW YORK, Jan. 13, 2017 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Dakota Plains Holdings, Inc. (“Dakota Plains” or the “Company”) (OTC:DAKPQ) of the February 14, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Dakota Plains stock or options between March 23, 2012 and August 15, 2016 (the “Class Period”).  The case, Deardeuff et al v. Dakota Plains Holdings, Inc. et al, No. 16-cv-09727 was filed on December 16, 2016, and has been assigned to Judge William H. Pauley, III.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by engaging in a potentially illegal stock manipulation scheme.

After a series of disclosures spanning several years, on October 31, 2016, the Securities and Exchange Commission (“SEC”) announced that it charged Ryan Gilbertson, co-founder of Dakota Plains, “with manipulating [Dakota Plains'] stock price and concealing his control of the company to attain lucrative financial payouts.”  The SEC claims that Gilbertson directed Dakota Plains’ CEO to offer Gilbertson and the other noteholders bonus “additional payments,” the size of which depended on Dakota Plains’ stock price following the March 23, 2012 reverse merger by which the company went public.  The SEC also stated that Michael Reger, another co-founder, agreed to pay close to $8 million to settle other charges against him in connection with the manipulation of Dakota Plains' stock price.  Throughout the Class Period, the Company stock has declined severely, causing damage to investors.

Request more information now by clicking here: www.faruqilaw.com/DAKPQ . There is no cost or obligation to you.

Take Action

If you invested in Dakota Plains stock or options between March 23, 2012 and August 15, 2016 and would like to discuss your legal rights, visit www.faruqilaw.com/DAKPQ. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Dakota Plains’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. 

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn:  Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

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Distribution channels: Consumer Goods, Law