InterOil Being Investigated

Paul Reinbara


Interoil Investigation Announced by Law Offices of Howard B. Sirota(Attorney Advertising)


Rockaway Park, NY (PRWEB) March 29, 2010 -- Veteran New York-based securities class action litigator Howard B. Sirota announced today that he is investigating Interoil, a Yukon Canada Company claiming in its 2009 press releases and regulatory filings in Canada and America to have discovered the world's largest-ever natural gas field in Papua New Guinea. Interoil shares plunged Friday on the NYSE following an expose article released Friday morning by William Lobdell of www.ibizreporting.com (See Story here) detailing apparent discrepancies between Introil's public regulatory filings and unsealed court transcripts. Accoding to Lobdell, Interoil's CEO told a federal bankruptcy judge in Texas that Interoil faced a "devastating" impact upon Interoil of a pending lawsuit which, according to Lobdell, triggered a bankruptcy filing by an entity controlled by Interoil's CEO, as well as recent heavy insider selling prior to public revelation of the apparent discrepancies. According to Lobdell, the Bankruptcy Judge dismissed the filing as having been filed "in bad faith."

Sirota, who was a Lead Counsel in a number of high-profile securities class actions in America, including Crazy Eddie, Sahlen, Wedtech, Firstplus Financial, and the IPO Securities Litigation, said he has been monitoring Interoil for the past year after learning that recidivist securities law violators in America and Canada were involved in selling Interoil securities.

Heavy recent insider selling appears with hindsight to have been prescient, and suspicious.
Sirota added "Heavy recent insider selling appears with hindsight to have been prescient, and suspicious."

Interoil shareholders who wish to discuss their legal options with Howard B. Sirota regarding a possible securities class action against Interoil and others, or persons who have information regarding Interoil which they would like to provide, may do so by contacting Howard B. Sirota, Esq.

Howard B. Sirota has extensive experience in securities litigation and securities class actions. In the notorious Crazy Eddie stock fraud, the court praised his "sustained and admirable tenacity." In the far larger multi-billion dollar Cendant securities fraud, a panel of the Third Circuit Court of Appeals described him as having shown "prescience." Sirota, who claims to only file cases involving the oxymoron "genuine fraud", is a long-time critic and opponent of Milberg Weiss and its various successors.

Comments

  1. Howard B. Sirota, Esq.March 30, 2010 at 11:53 PM

    With the Internet, it really is a small world. Thanks for your interest.

    Is there any "buzz" in PNG about the Interoil claim to be drilling and testing the world's largest-ever natural gas well, and the runner-up?

    Anyone ever been to or worked at the drill sites who has info?

    Schlumberger, Halliburton and Wetherford are excited about Interoil or not?

    Anyone in the Port who hears the "buzz?"

    Thanks again.

    ReplyDelete
  2. AnonymousMarch 31, 2010 at 9:30 AM

    Interoil Corp bribed its way into Papua New Guinea and has monopolised the ICCC and now continues to control the Fuel Price in PNG. They bought off the ICCC Commissioner Thomas Abe, they paid off the last Government and this government to get a concession for 20 years.
    They have not provided the test results to their Well Heads; they buy off the press like the National Newspaper and Post Courier of Papua New Guinea to inflate their figures. We have had a reputable company called Chevron that has worked these areas way before InterOil came, even OilSearch was here way before Chevron and yet these companies had no interest in these areas because they know and they are not stupid. It’s just a waste, only someone with a scandalous motive like InterOil, it’s on record that found nothing, Nothing was found, from people who have worked with this company confirm that, I don’t know why we keep buying the junk they keep selling to the media every day. INTEROIL is a fraud. They can say they are working for the betterment of PAPUA NEW GUINEA, but if you break the Law your reputation stinks.

    ReplyDelete
  3. howard.sirota@gmail.comApril 1, 2010 at 1:36 AM

    Can you put me in touch with anyone who worked on the Interoil drilling to confirm to me what they told you?

    Ask people to contact me directly or to post replies anonymously on this forum.

    Thanks.

    ReplyDelete

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