San Juan Basin Royalty Trust (SJT)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of San Juan Basin Royalty Trust (“SJB” or the “Trust”) (NASDAQ: SJT). The investigation concerns whether SJT and certain of its officers and/or directors have violated federal securities laws.
On August 20, 2021, SJB announced that “it will not declare a monthly cash distribution to the holders of its Units of beneficial interest” due to “excess production costs for the June 2021 production month.” The Trust disclosed that “true-ups that occurred last month to the lease operating and capital cost categories for the January 2021 through April 2021 production months resulting in additional profits were made in error” and that “the June 2021 reporting month includes a reduction of $2,043,557.99 gross profits ($1,532,668.49 net to the Trust) due to corrections for those periods.” On this news, SJB’s stock price fell $0.86 per share, or 17.1%, to close at $4.17 per share on August 20, 2021.
If you are aware of any facts relating to this investigation, or purchased SJB shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.