Cokinos | Young Dallas Secures $3.8 Million Judgment in Securities Fraud Case
A significant legal victory was achieved on January 21, 2025, when Judge James P. Fallon of the 15th Judicial District Court entered a $3,820,200.25 judgment against Michael W. Wright and Wright Drilling & Exploration, Inc. The judgment follows a jury verdict delivered on September 24, 2024, after a week-long trial.
Plaintiffs Charles Hardwick, Randall Schwimmer, Kim Parker, Lance Schwimmer, and Rodney Warren prevailed in their case against the Defendants, who were found liable for securities fraud, breach of fiduciary duty, and breach of contract in connection with oil and gas joint ventures operated by Michael W. Wright.
Cokinos | Young Principal Anderson Sessions, alongside Fernando Bustos, of The Bustos Law Firm, and Kelly Hollingsworth, of Mims Ballew & Hollingsworth, led a consolidated trial team that represented the Plaintiffs in a coordinated prosecution against the Defendants and more than a dozen sham oil & gas joint venture entities. Their compelling case exposed the egregious misconduct at the center of the dispute, highlighting the importance of fiduciary accountability and corporate transparency in such ventures.
The case marks a decisive stand against fraudulent practices in the oil and gas sector, reinforcing the integrity of joint ventures and investor agreements.
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