Defendant Name: El Paso CGP Company, LLC

Defendant Type: Subsidiary of Public Company

Document Reference: 2008-138

Document 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
Document Name El Paso Corp., Subsidiaries, and Former Employees Settle SEC Charges for Fraudulently Overstating Oil and Gas Reserves
Document Date 11-Jul-2008
Document Format Civil Proceeding
Case Number 08-cv-02191
Federal District Court Texas, Southern District of Texas
Allegation Type Issuer Reporting and Disclosure
Document Summary On July 11, 2008, the SEC stated that: "[It] charged Houston-based energy company El Paso Corporation, its subsidiaries, and five former employees with fraud for improperly inflating their proved oil and gas reserves, making the companies' financial statements materially misleading to investors."

Disgorgement & Penalty Information

Resolutions
Injunction

Related Documents:

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_doc6_08-cv-02191 28-Jul-2008 Court Docket Document
Final Judgement as to Defendant El Paso CGP Company LLC
The Court stated: "The Securities and Exchange Commission having filed a Complaint and Defendant El Paso CGP Company LLC ("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."