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Investigation announced for Investors in San Juan Basin Royalty Trust (NYSE: SJT)

08-27-2021 03:10 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in San Juan Basin Royalty Trust (NYSE: SJT) shares over potential securities laws violations.

An investigation for investors in San Juan Basin Royalty Trust (NYSE: SJT) shares over potential securities laws violations.

An investigation was announced over potential securities laws violations by San Juan Basin Royalty Trust in connection with certain financial statements was announced.

Investors who purchased shares of San Juan Basin Royalty Trust (NYSE: SJT), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by San Juan Basin Royalty Trust regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Houston, TX based San Juan Basin Royalty Trust operates as an express trust in Texas.

On August 20, 2021, San Juan Basin Royalty Trust (NYSE: SJT) 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.”

Shares of San Juan Basin Royalty Trust (NYSE: SJT) declined from $4.50 per share on August 20, 2021, to as low as $3.75 per share on August 23, 2021.

Those who purchased shares of San Juan Basin Royalty Trust (NYSE: SJT) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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