Sunday, April 1, 2012

Range Resources (RRC) Insider Trading?

During some research I was accomplishing regarding my complaint to the Texas Bar Association on David Poole, General Counsel for Range Resources (RRC), I found that on July 27, 2011, Mr. Poole sold the majority of his Range Resources (RRC) stock. This was only a month after multi-million dollar lawsuit for water contamination was filed in Parker County TX, and a couple of days after the initial story of this lawsuit hit the DFW Media. Also,this was a day after Range Resources (RRC) released their quarterly earnings.

It would stand to reason that the general counsel of the company would have information not known to the public about any litigation that involved the company. He would also know intimate information on whether the company was exposed to any liability on that litigation. He would further know if there were any national media outlets that were preparing stories, because they likely would have called him directly for comments. Another peculiar thing was that only 10 days after the sell off, the stock fell over 20%. To put that in perspective, Mr. Poole owned 33,500 shares according several investing sites, and on July 27, 2011, he sold 27,000 of them at around $64 a share. The stock initially bumped up a couple of dollars, and then fell to a low on August 8, 2011 of around $51. The different in the total of selling the stock on those two days was over $350,000.00 to the benefit of Mr. Poole.

Further investigations show that Mr. Poole was not the only insider that traded significant stock on this day. There were four others that sold a significant amount of stock on July 27, 2011, and another that sold on July 29, 2011. Perhaps , I am giving them too much credit, but it would seem to very foolish to have a bunch of board members dump all their stock at the same time, and not raise questions of insider trading. Therefore, I am hopeful that there is someone who reads this that can better explain what is possibly happening. If there is someone who has an accounting background that can tell me whether or not there is something that should be questioned, or whether this is just a part of normal executive compensation. It certainly seems fishy, but could be something that is normal course of business. In reviewing some of their previous Security and Exchange Commission filings, there are some other peculiar things that I have questions about. Please give me a call or email, if you have some knowledge on the subject and are willing to help me poor through the past several years of Range Resources (RRC) SEC filings. Below are the links to the documents filed with the SEC:



Calvin Tillman
Former Mayor, DISH, TX
(940) 453-3640

"Those who say it can not be done, should get out of the way of those that are doing it"

4 comments:

  1. good work and reasoning to see through the nefarious acts of these companies and their top men. May you get some good action against these people.

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  2. I am sure Range also helped some of our local politician in the last Mayor's race. David Poole said my reasons for complaining about Range and the drillling were politically motivated. How did he know we were starting our election cycle? Dirty business here in Denton.

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  3. Hi Calvin, my name is Heather Poole, and I am David Poole's wife. I am also a lawyer. I held my tongue when you posted his telephone number and email (of course, you subsequently glossed right over the fact that my husband answered nearly every single phone call and every single e-mail that he received). I also stayed quiet when you manipulated video to mislead the viewer as to statements that my husband made. You profess to be such a good Christian man who is interested in the truth while you have defamed and slandered my husband repeatedly, and while we have put up with your drivel up until now, you have gone too far. Clearly your online education taught you nothing about insider trading, and it is more than obvious that you have zero interest in the truth. So my request to you is to stop it. Now. You can expect to receive a cease and desist letter in the very near future from our attorney, and don't think that I won't sue you myself.

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  4. WOW 2 ignorant lawyers in the family, what are the odds? Sounds liike a threat to me. Isn't there a law against that?

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