NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against San Juan Basin Royalty Trust (“SJT” or the “Company”) (NYSE: SJT) on behalf of SJT stockholders. Our investigation concerns whether SJT has violated the federal securities laws and/or engaged in other unlawful business practices.
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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 purchased or otherwise acquired San Juan Basin Royalty Trust shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
