Plaintiffs' allegations regarding defendants' failure to recognize impairments based on the collapse in oil prices relate to conduct that occurred prior to the merger and should have been known before then, and the claims under �� 10(b) and 14(a) are barred under the one-year discovery limitations period; the lengthened limitations period under Sarbanes-Oxley does not apply; plaintiffs also have failed to satisfy PSLRA's requirement to specify why the statements in the SEC filings were misleading.
October 10, 2005 at 12:00 AM
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