Frfgtr Pension & Relief Fund v. T. Bulmahn
Court of Appeals for the Fifth Circuit
1Opinion of the Court
STEPHEN A. HIGGINSON, Circuit • Judge:
This securities class action concerns ATP Oil & Gas Corporation’s (“ATP”) collapse into bankruptcy. Plaintiffs-Appellants were shareholders of ATP, a company engaged in the acquisition, development, and production of oil and gas properties. Plaintiffs allege that Defendants, each of whom was an officer or director of ATP, misrepresented (1) the production of Well 941 #4 (‘Well #4”) (a new well that ATP brought online in 2011), (2) ATP’s liquidity and whether the company had the available funds to complete the Clipper pipeline (a pipeline project that ATP…
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