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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of San Juan Basin Royalty Trust (SJT) on Behalf of Investors

August 20, 2021 GMT

BENSALEM, Pa.--(BUSINESS WIRE)--Aug 20, 2021--

Law Offices of Howard G. Smith announces an investigation on behalf of San Juan Basin Royalty Trust (“Trust” or the “Company”) (NYSE: SJT ) investors concerning the Company’s possible violations of federal securities laws.

On August 20, 2021, the Trust 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.”

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On this news, the Company’s share price fell approximately 17% during intraday trading on August 20, 2021, as compared to the previous day’s close, thereby injuring investors.

If you purchased Trust securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210820005340/en/

CONTACT: Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Law Offices of Howard G. Smith

Copyright Business Wire 2021.

PUB: 08/20/2021 04:30 PM/DISC: 08/20/2021 04:31 PM

http://www.businesswire.com/news/home/20210820005340/en