Defendant Name: El Paso Exploration & Production Co.

Defendant Type: Subsidiary of Public Company
Public Company Parent: El Paso Corporation
SIC Code: 1311
CUSIP: 28336L10

Initial Case Details

Legal Case Name SEC v. El Paso Corporation, El Paso CGP Company LLC, El Paso Exploration & Production Co., Rodney D. Erskine, Randy L. Bartley, Steven L. Hochstein, John D. Perry and Bryan T. Simmons
First Document Date 11-Jul-2008
Initial Filing Format Civil Proceeding
Case Number 08-cv-02191
Allegation Type Issuer Reporting and Disclosure
Federal District Court Texas, Southern District of Texas

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
• Rule 12b-20
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
• Sec 15(d)
Securities Act
• Sec 17(a) (Not specified)
Other
• Rules 15d-1, 15d-13 Exchange Act
Additionally, Rodney D. Erskine is alleged to have aided and abetted El Paso Exploration & Production Co.'s violation of Rule 12b-20 of the Exchange Act.
Steven L. Hochstein is alleged to have aided and abetted El Paso Exploration & Production Co.'s violation of Rule 12b-20 of the Exchange Act.
Rodney D. Erskine is alleged to have aided and abetted El Paso Exploration & Production Co.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Steven L. Hochstein is alleged to have aided and abetted El Paso Exploration & Production Co.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Rodney D. Erskine is alleged to have aided and abetted El Paso Exploration & Production Co.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Steven L. Hochstein is alleged to have aided and abetted El Paso Exploration & Production Co.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Rodney D. Erskine is alleged to have aided and abetted El Paso Exploration & Production Co.'s violation of Sec 15(d) of the Exchange Act.
Rodney D. Erskine is alleged to have aided and abetted El Paso Exploration & Production Co.'s violation of Rules 15d- 1, 15d- 13 Exchange Act.
Steven L. Hochstein is alleged to have aided and abetted El Paso Exploration & Production Co.'s violation of Rules 15d-1, 15d-13 Exchange Act.

Resolutions

First Resolution Date 11-Jul-2008

Related Documents:

2008-138 11-Jul-2008 Press Release--Civil Action
El Paso Corp., Subsidiaries, and Former Employees Settle SEC Charges for Fraudulently Overstating Oil and Gas Reserves
The Commission Stated: "The SEC's complaint, filed in district court in Houston, alleges that El Paso's former employees lacked required supporting data in estimating reserves and ignored negative drilling results and production trends demonstrating that some fields weren't producing as projected. Without admitting or denying the allegations, El Paso, its subsidiaries El Paso CGP Company LLC (CGP) and El Paso Exploration & Production Co. (EPPH), and the former employees have agreed to settle the SEC's enforcement action.
LR-20642 11-Jul-2008 Litigation Release
SEC Settles Securities Fraud Case With El Paso Corporation, Its Subsidiaries, and Several Former Employees
On July 11, 2008, the SEC stated that: "[It] filed a civil action against El Paso Corporation (El Paso), its subsidiaries El Paso CGP Company LLC (CGP) and El Paso Exploration & Production Co. (EPPH), and several former employees alleging that they inflated, or participated in the inflation of, the companies' proved natural gas and oil reserves in violation of the federal securities laws."
comp20642 11-Jul-2008 Complaint
Complaint
The SEC stated: "Between 1998 and 2003, El Paso Corporation's ("El Paso's") oil and gas production subsidiaries, El Paso CGP Company LLC ("CGP") and El Paso Exploration and Production Co. ("EPPH"), materially overstated their proved oil and gas reserves under the Securities and Exchange Commission's ("Commission's") rules. In September 2004, El Paso restated its financial statements for the period from year end 1999 through September 30,2003."
court_doc8_08-cv-02191 28-Jul-2008 Court Docket Document
Final Judgment as to Defendant El Paso Exploration & Production (Formerly Known as El Paso Production Holding Company)
The Court stated: "The Securities and Exchange Commission having filed a Complaint, and Defendant El Paso Exploration & Production (formerly known as El Paso Production Holding Company) ("Defendant") having entered a general appearance; consented to the Court's jurisdiction over Defendant and the subject matter of this action' consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment"

Other Defendants in Action:

El Paso Corporation
Rodney D. Erskine
El Paso CGP Company, LLC
Randy L. Bartley
John D. Perry
Bryan T. Simmons
Steven L. Hochstein