17 thoughts on “Investor Lawsuit”

  2. Please give details on what the intention of the shareholder lawsuit is all about? It would seem to be a bit premature with all oil/enegy stocks getting hammered because of the Russia/Saudi situation. Doesn’t seem like any self-dealing or fraud.

    Like

  4. I don’t understand what the suit accomplishes? I’d like the company to stop spending money on lawyers and get laser focused on getting through this economic shock and then playing as much offense as possible. Murray Stahl and Horizon won’t be co-opted. They are long term, aligned and have great perspective – if they had raised their hand and picked this fight who knows what sort of bs would be going on?
    This is a great forum and you’re a great voice on these issues….please explain/expand on what you’re thinking..

    Like

  5. I sent an email. They owe us something by today, even if it’s just another postponement. Absolutely ridiculous.

    Like

    • They announced a unanimous decision to convert to a corporation on January 22. We’ve been waiting patiently for the details for two months. We have already had one postponement, and we were promised an update by 3/20/2020. Someone please let me know if I missed it. Otherwise, this is inexcusable.

      Like

      • I like you have a pretty significant investment in TPL. I’m a private investor, not a professional investor but I might point out that a delay in converting to a C corp would not be grounds for a lawsuit. Usually fraud or self-dealing is the standard, not frustrating delays. Delays may have many legitimate reasons as well as extenuating circumstances including Covid-19 and the Russian/Saudi oil situation. A class action lawsuit is expensive (granted law firms work on contingencies) to shareholders. I say, request and then request again the reason for the delays from the almost board…have a bit more patience. I think the newly designated fiduciaries will represent us effectively.

        Like

  9. It’s been about a year + and these guys are getting huge payouts for not doing much. TPL is a royalty company not and oil and gas co levered up and frankly over the last year with proxy battle etc.. these guys are crooks. The fundamentals of TPL are pretty basic-no debt, cash on balance sheet compared to a lot of these other companies in the space. And quite frankly they are hiding stuff, it could be very easy for them to convert to C Corp! And more transparency! It is getting out of control and they have a fiduciary duty and if this continues in terms of a lawsuit it could frankly ruin there lives. I’m all on board to file a lawsuit as a long term shareholder. And they have completely dropped the ball on buybacks.

    Liked by 1 person

  11. Before you take this any further I suggest contacting the group of new directors trying to pull the C conversion off. Really I suggest giving it a bit more time but no harm in lighting a fire. I think there needs to be more communication but there is the new group working to make this happen. I’m no fan of the long time “trustees”.

    Liked by 2 people

    • I respect your point of view Glenn, but nothing is moving forward right now (or if it is, it’s not transparent to common sub-share holders). I work for an S&P500 company, in comparison to our standards the way this is playing out is ridiculous. As Sub-share holders should be “all hands on deck” at this point, use all leverage we can to move the ball in our direction. That means transparent and fiduciary governance. Right now it is written into the foundation of this Trust.. and we are getting anything close to fiduciary governance. There are legals grounds to challenge.

      Liked by 1 person

      • I can’t defend their slow actions and I’m just as frustrated as all you folks. For many years I was lead plaintiff on more than a handful of class action lawsuits. Most were for fraud or self-dealing. They tend to be long drawn out actions that pay the lawyers well and the shareholders reap very little benefit. I don’t think the timing is right at this point with oil prices where they are and the Russia/Saudi situation. I also don’t think there are significant grounds for a lawsuit based on their slow conversion process. I think the fastest action would be to contact Horizon Kinetics Murray Stahl or Eric Oliver. I wouldn’t waste my time with the old trustees. Voice your issues, but again I think the C conversion will be resolved in a short time.

        Like

  12. Remember that the new “board” fought the present trustees and won their “seats”, they are aligned with us as shareholders.

    Liked by 1 person

Comments are closed.