DENVER (Legal Newsline) — A pension system has filed a class action lawsuit against Jagged Peak Energy, Citigroup Global Markets, Credit Suisse Securities (USA) and other financial institutions, alleging liability and negligence.
The Oklahoma Police Pension and Retirement System filed a complaint on behalf of all others similarly situated on May 12 in Denver County District Court against the defendants alleging that they issued materially false facts regarding Jagged Peak stock when the company went public in January. The case was removed to U.S. District Court for the District of Colorado on June 12.
According to the complaint, the plaintiff alleges that the plaintiff organization was damaged due to the untrue statements and false facts made to it by the defendants. The plaintiff holds the defendants responsible because they allegedly failed to disclose all the issues concerning financials and business details upon their initial sale of stock in Jagged Peak.
The plaintiff requests a trial by jury and seeks compensatory damages, rescission, pre- and post-judgment interest, court costs and further relief as the court may deem just and proper. It is represented by Rusty E. Glenn of The Shuman Law Firm in Denver.
U.S. District Court for the District of Colorado case number 1:17-cv-01346-WYD