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Pacific Coast Oil Trust

Summary of Case:

On April 3, 2015, Scott+Scott, Attorneys at Law, LLP ("Scott+Scott"), filed a consolidated amended class action lawsuit against Pacific Coast Oil Trust (NYSE:ROYT) ("PCOT" or the "Company") and certain of its executives and directors and each of the investment banks that acted as underwriters in connection with PCOT's May 2, 2012 Initial Public Offering ("IPO") and PCOT's September 19, 2013 Secondary Offering ("Secondary Offering"). The class action, filed in the Superior Court of the State of California - County of Los Angeles, alleges that PCOT's IPO and Secondary Offering Registration Statements contained materially incorrect or misleading statements and/or omitted material information that was required to be disclosed.

PCOT is a Delaware statutory perpetual royalty trust formed by Pacific Coast Energy Company ("PCEC") to own net profits and royalty interests in California onshore oil and gas properties located in the Santa Maria and Los Angeles Basins.

The Amended Complaint alleges that PCOT mistated: (1) the level and predictability of cash distributions that would be paid to unitholders; (2) the need for capital expenditures; (3) that the interests of PCEC and unitholders were aligned when, in fact, PCEC's overriding interest was to limit capital expenditures along with operating costs; and (4) that PCEC was able to and would use its technical and operational expertise to manage and control the timing of expenses and capital expenditures for the benefit of unitholders.

What You Can Do

If you are a PCOT unitholder that purchased in the IPO, or are a PCOT unitholder who purchased Secondary Offering on September 19, 2013, you may have additional rights.  If you wish to discuss this action, or have questions about this notice or your legal rights, please contact attorney Joseph Halloran at (646) 582-0121.

About Scott+Scott, Attorneys at Law, LLP

Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States.  The firm represents pension funds, foundations, individuals, and other entities worldwide.

CONTACT:

Joseph V. Halloran

Scott+Scott, Attorneys at Law, LLP

(800) 404-7770

(646) 582-0121

If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.

Complaint

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