UPDATE: ATP Oil & Gas Shares Down 9% Today After Surging Friday on U.S. Lawsuit News

By Midnight Trader,  June 18, 2012, 12:49:01 PM EDT

Shares of ATP Oil & Gas Corporation ( ATPG ), which had surged in trading on Friday, are today down 9% to $4.74, but off their day low of $4.64.

ATPG shares had risen to $6.13 on Friday in the wake of news that the company had filed a lawsuit against the U.S. government for suspending offshore drilling following the Gulf of Mexico oil spill in 2010.

The company is seeking over $68 million in damages, alleging in the lawsuit that the U.S. government's moratorium on all offshore drilling was improper and illegal. The company also accused the government of unlawfully delaying the issuance of permits once the moratorium was lifted.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: ATPG



Latest News Video

Judge Blocks Arkansas' 12-Week Abortion Ban
Judge Blocks Arkansas' 12-Week Abor...
Mitt Romney 'Not A Fan' Of Obama
Mitt Romney 'Not A Fan' Of Obama    
Plane Catches Fire Landing at Moscow Airport
Plane Catches Fire Landing at Mosco...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.43 0.07  0.52%
CSCO $ 24.24 0.35  1.48%
MSFT $ 34.87 0.79  2.32%
F $ 15.08 0.44  3.01%
ARUN $ 13.10 4.51  25.61%
SIRI $ 3.50 0.05  1.45%
GE $ 23.46 0.19  0.82%
S $ 7.32 0.04  0.55%