UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): September 28, 2001
TRANS ENERGY, INC.
(Exact Name of Registrant as Specified in its Charter)
NEVADA 0-23530 93-0997412
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State or Other (Commission (IRS Employer
Jurisdiction) File Number) Identification
Number)
210 Second Street, P.O. Box 393, St. Mary's, West Virginia 26170
(Address of Principal Executive Offices and Principal Place of Business)
Registrant's Telephone Number, Including Area Code: (304) 684-7053
FORM 8-K
Item 5. Other Events
On September 28, 2001, the Securities and Exchange Commission announced
that it had filed a civil action in U.S. District Court for the District of
Columbia (Civil Action No. 1:01CV020060) against Trans Energy, Inc. (the
"Company") and two of its directors, Loren E. Bagley and William F. Woodburn.
The complaint alleges violations of the anti-fraud and reporting provisions of
the federal securities laws and seeks injunctive relief against the Company, Mr.
Bagley and Mr. Woodburn to enjoin them from future violations of securities
laws. The complaint also seeks civil penalties against Messrs. Bagley and
Woodburn.
The Commission's action is premised on the dissemination of alleged
false and misleading statements through press releases, website postings and
Commission filings. The complaint alleges that these statements contained
misrepresentations, inaccuracies and omissions during a period when Mr. Bagley
served as the Company's President and Mr. Woodburn as the Vice President and
principal financial officer. The Company's counsel is actively reviewing the
complaint and determining an appropriate response.
On September 10, 2001, Mr. Bagley resigned as President and Chief
Executive Officer of the Company and Mr. Woodburn resigned as Vice President,
although he continues as Secretary and Treasurer. Mr. Bagley was then appointed
as a Vice President and Robert I. Richards was elected as the new President,
Chief Executive Officer and a director.
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SIGNATURES
In accordance with the requirements of the Securities Exchange Act of
1934, the Registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
TRANS ENERGY, INC.
Date: October 11, 2001 By: /S/ ROBERT I. RICHARDS
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Robert I. Richards
President and Chief Executive Officer
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