Millennium Drilling: Investors Vindicate Feldman

GREENWICH, Conn., July 28, 2014 /PRNewswire/ -- Today, Greenwich, CT investor Jonathan Feldman responded to an article published by the Salt Lake City Tribune regarding dismissal of the lawsuit brought against him by a group of Utah investors.

"I'm pleased that the public record now reflects the result of the case brought," said Feldman.  "As I have consistently said, the investment offering was completely legitimate and carried out appropriately."

The recent Tribune article follows the paper's initial coverage of the matter in August of 2012 when the allegations were first brought against Feldman and his companies Patriot Exploration LLC and Millennium Drilling LLC.

"It's unfortunate the plaintiff's lawyer decided to call my reputation into question in the newspaper before having learned all the facts," said Feldman.  "It's a shame he felt the need to attack my reputation." 

In a signed statement, the Utah investors Skyler Witman, John Washenko, Jonathan Bonnette, Matt Lovelady and Don Jorgensen stated, in part:

"After an extensive investigation, we have found that Mr. Feldman, his companies, and business associates did not misappropriate investment funds.  At this time, we are continuing to participate in the partnerships, have reaffirmed our obligations under the original partnership agreements, and look forward to working together with Mr. Feldman in the future."

As a result simultaneously, Feldman's company, Millennium Drilling LLC, dropped the counter suit it had brought against the group in the U.S. Court's Southern District of New York.  That measure sought to accelerate the maturity date of the personally guaranteed debt obligations to the company. 

CONTACT: DWAYNE LAWLER
PHONE: 203-570-6229

SOURCE Millennium Drilling LLC