LONDON, UK / ACCESSWIRE / September 28, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Northern Oil and Gas, Inc. (NYSE: NOG) ("Northern"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=NOG. The Company announced on September 26, 2017, that it has entered into an agreement to settle the lawsuit charged by its former Chief Executive Officer (CEO) and founder, Michael Reger. The Company's core area of focus is the Williston Basin Bakken and Three Forks play in North Dakota and Montana. For immediate access to our complimentary reports, including today's coverage, register for free now at:

http://protraderdaily.com/register/

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on NOG. Go directly to your stock of interest and access today's free coverage at:

http://protraderdaily.com/optin/?symbol=NOG

Northern Terminated its Employment Contract with Reger in August 2016

Northern fired its CEO and founder, Michael Reger, through a filing on August 16, 2016, following a disclosure by the Securities and Exchange Commission (SEC) that it had made a preliminary determination to pursue an enforcement action against Reger. Moreover, the Company also removed him from its Board of Directors and announced that he was not eligible for a severance.

The disclosure was made regarding the SEC's investigation into potential stock manipulation concerning Dakota Plains Holdings. The investigation basically concerns 2012 trading patterns in the securities of Wayzata-based Dakota Plains Holdings, which is a faltering Company in which Reger was an initial investor. Regarding the investigation, it must be noted that Reger informed the Board on August 11, 2016, that the SEC plans to pursue an enforcement action against him claiming violations of federal securities laws, particularly rules to fight fraud, and manipulation by establishing position limits and reporting requirements.

Northern, however, stated that it never owned an interest in Dakota Plains Holdings and would fully cooperate with the investigation. At the same time, Reger also denied any wrongdoing and mentioned that he will cooperate with the SEC investigation.

Lawsuit Against Northern

The abruptly expelled CEO Michael Reger sued Northern for wrongful termination. Reger, who had earned over $10 million as compensation from Northern over several years, stated that the Company defaulted on an agreement to let him exit with a full severance package. He charged that he was terminated unfairly, defamed, and deprived of a severance package.

He mentioned that his employment was terminated for reasons totally unrelated to his performance or to Northern's business. As per his employment contract with Northern, such a termination without cause demands Northern to pay a considerable severance to Reger, to vest certain unvested shares of Northern's stock, as well as to provide other benefits.

Reger's Settlement with SEC

Reger proclaimed that he settled the enforcement action with the SEC for approximately $8 million on November 08, 2016. In an email about the lawsuit, he revealed that he settled the enforcement action with the SEC without admitting to the SEC's findings. Moreover, the SEC has not barred him from serving as an officer or board member of any publicly held Company. He also stated that his career prospects would now be as open as possible, including the possibility of returning to Northern once again.

Northern's Settlement with Reger in September 2017

Northern settled terms with Reger on September 26, 2017. As per the terms of the settlement, Reger would now be designated as the Chairman Emeritus of Northern. This decision has been driven by his vision and passion in founding Northern and subsequently building it into a leading oil producer in the Williston Basin of North Dakota and Montana.

Northern is pleased to settle this pending matter with Reger, which it considers is in the best interests of the Company as well as its shareholders.

Last Close Stock Review

On Wednesday, September 27, 2017, the stock closed the trading session at $0.97, dropping 7.66% from its previous closing price of $1.05. A total volume of 943.05 thousand shares have exchanged hands, which was higher than the 3-month average volume of 861.90 thousand shares. Northern Oil and Gas' stock price rallied 11.32% in the last one month. The stock currently has a market cap of $59.76 million.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily