It would be nice if CNX provided a bit more detail around...

It would be nice if CNX provided a bit more detail around dispute this given the number of price sensitive announcements they have made over the past few years! I have uncovered all this information is all in the public domain...

COMPLAINT For Compensatory And Punitive Damages And Other Relief Based On Fraud In The Inducement, Intentional Interference With Prospective Advantage, Breach Of Contract And Implied Covenant Of Good Faith And Fair Dealing, Fraud, Conversion And Other Claims against Carbon Energy Limited ( Filing fee $ 400, receipt number 0971-10010797.). Filed by Summa Resource Holdings LLC

Here is what I've been able to turn up:

Court date: 10am Monday 22 Feb 2016

Calendar for: Judge Thelton E. Henderso, Courtroom 2, 17th Floor/Courtroom 12, 19th Floor
Nature of Suit 370 Torts - Personal Property - Other Fraud 3:15-cv-05334-TEH -
Summa Resource Holdings LLC v. Carbon Energy Limited - Motion to Dismiss

--

Summa Resource Holdings LLC
228 SIR FRANCIS DRAKE BLVD.
SAN ANSELMO CA 94960
Business Phone: 707-324-9601

EDWARD P. MOONEY $80,000 USD Salary

Form D Filings (issued capital)
Filing Date   Total Offering Amount   (US$) Total Amount Sold (US$)
2010-08-05   5,000,000   4,650,000
2010-05-27   4,500,000   4,175,000
2009-11-30   4,000,000   3,277,500

Total Equity = ~US$12M

43 Investors (Private Equity)

http://whalewisdom.com/filer/summa-resource-holdings-llc

--

I’d just like to get a better handle on what has happened here and why it has come to this? Anyone?

I have done a bit of desk-top research and found a couple of sources of information available in the public domain, however, the most recent court documents are behind a pay wall. If anyone can access then please post them up. Thanks.

Here:
https://www.pacermonitor.com/public/case/9984038/Summa_Resource_Holdings_LLC_v_Carbon_Energy_Limited

I rate the company’s chances of having the case thrown out at the motion to dismiss hearing on 22 February 2016:

Source: http://www.cand.uscourts.gov/CEO/cfd.aspx?7119#top

I wonder where the SP will be once this is done and dusted? But, you never know...

Cheers

mmmmgus