Stoltmann Law Offices has learned that Energy & Exploration Partners of Fort Worth is seeking Chapter 11 bankruptcy protection after suppliers and service companies sought payment for unpaid bills. The company owns about 61,000 net acres in Texas and Wyoming, with the Texas holdings located mostly in Woodbine and Eagle Ford shales. The company made the filing after Schlumberger Technology, Baker & Hughes, and Cactus Pipe & Supply initiated an involuntary bankruptcy against the company. Several other oil and gas companies have filed for bankruptcy recently, what with the price of oil dropping sharply. Our securities law office is interested in speaking to investors who were recommended to invest in oil and gas by their broker. If so, you may have a case against your brokerage firm because not all oil and gas investments are suitable for every retail investor. They tend to be risky and illiquid. A brokerage firm can be sued for not reasonably supervising their brokers and we take these cases on a contingency fee basis, which means we do not make money unless you recover. The call to us is free. Please call today.
Stoltmann Law Offices is investigating Darrell Duane Smith and Randy Less, who have both been charged with “willfully failing” to collect, truthfully account for a pay federal income, Social Security and Medicare taxes that were withheld from the wages of employees of Permeate Refining Inc., a business that made ethanol in Hopkinton. Less was the majority owner of the company, a general partner and the general manager of Permeate. Allegedly, from 2009 until 2010, he failed to pay $116,000 in withheld federal taxes. From 2011 to 2012, Less and Smith failed to pay $307,000 in withheld taxes.