Constellation Energy Partners: Delaware Court Issues Order for Preliminary Injunction; Enjoins Annual Meeting Scheduled for D...
December 03 2013 - 6:45PM
Business Wire
Constellation Energy Partners LLC (NYSE MKT: CEP) today
announced that the Court of Chancery of the State of Delaware (the
“Court”) has issued an order granting a motion for a preliminary
injunction made by plaintiffs in the PostRock Litigation. As a
result of the order, CEP is enjoined preliminarily from holding its
annual meeting of unitholders on December 5, 2013, or at any time
before the Court has ruled on the merits of plaintiffs’ claims.
Once the Court has ruled on the merits of plaintiffs’ claims,
the company’s duly constituted board of managers shall promptly
schedule and hold the annual meeting.
The trial in the PostRock Litigation is scheduled for December
16 through December 18, 2013 in Wilmington, Delaware. The company
cannot predict how long it will take for a decision to be rendered
in the case after the trial.
Plaintiffs in the PostRock Litigation include Constellation
Energy Partners Management, LLC, a wholly owned subsidiary of
PostRock Energy Corporation (NASDAQ: PSTR), along with Gary M.
Pittman, and John R. Collins, both former Class A managers of
CEP.
Additional information concerning the PostRock Litigation can be
found in the company’s filings with the Securities and Exchange
Commission and on the company’s Web site
(http://www.constellationenergypartners.com).
About Constellation Energy Partners LLC
Constellation Energy Partners LLC (“CEP”) is a limited liability
company focused on the acquisition, development and production of
oil and natural gas properties, as well as related midstream
assets. The company’s proved reserves are located in the Cherokee
Basin in Oklahoma and Kansas, the Woodford Shale in the Arkoma
Basin in Oklahoma, the Central Kansas Uplift in Kansas, and in
Texas and Louisiana.
Forward-Looking Statements
This news release contains statements that are considered
forward-looking statements within the meaning of the Securities Act
of 1933, as amended, and the Securities Exchange Act of 1934, as
amended. These forward-looking statements are largely based on the
company’s expectations, which reflect estimates and assumptions
made by the company’s management. These estimates and assumptions
reflect the company’s best judgment based on currently known market
conditions and other factors. Although the company believes such
estimates and assumptions to be reasonable, they are inherently
uncertain and involve a number of risks and uncertainties that are
beyond the company’s control. In addition, management's assumptions
about future events may prove to be inaccurate. Management cautions
all readers that the forward-looking statements contained in this
news release are not guarantees of future performance, and the
reader cannot be assured that such statements will be realized or
the forward-looking events and circumstances will occur. Actual
results may differ materially from those anticipated or implied in
the forward-looking statements due to factors listed in the "Risk
Factors" section of each company’s SEC filings and elsewhere in
those filings. All forward-looking statements speak only as of the
date of this news release. The company does not intend to publicly
update or revise any forward-looking statements as a result of new
information, future events or otherwise. These cautionary
statements qualify all forward-looking statements attributable to
the companies or persons acting on the company’s behalf.
Constellation Energy Partners LLCInvestor Contact:Charles C.
Ward, (877) 847-0009orGeneral Inquiries: (877)
847-0008www.constellationenergypartners.com
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