JP 3E Holdings Inc (JPTE)

[Kool Aid Man]

In September 2015, Plaintiff Prime Energy and Chemical, LLC ("Prime Energy") entered into a Letter of Intent and, in November 2015, a Purchase and Sale Agreement ("PSA"), with Mark A. Thompson and Mid-East Oil Company. The agreements related to oil, gas, and shallow mineral rights at the "Swamp Angel" property, located in McKean County, Pennsylvania. At all times related to the transactions at issue, Thompson and Mid-East Oil were represented by Shiner and Carroll, attorneys with Tucker. Prime Energy alleges that Shiner and Carroll engaged in three separate instances of fraudulent misrepresentation and concealment related to the underlying transactions, followed by an attempt to cover up the fraud, as follows:

(3) Defendants represented that the property was not subject to pending litigation, when at the time of the transactions at issue, at least one other multi-party fraud action was pending in this Court related to the sale of oil and gas rights, and that litigation resulted in the entry of judgment against Thompson in the sum of $2,000,000;
https://casetext.com/case/prime-energy-chem-llc-v-tucker-arensberg-pc