November 11, 2019 - A fourth amended complaint was filed (a previously filed third amended complaint was redacted in March of 2019).

March 20, 2018 - The court granted in part and denied in part the defendants' motion to dismiss.

August 15, 2017 - A motion to dismiss the second amended complaint was filed.

July 10, 2017 - A second amended complaint was filed.

May 2, 2017 - An amended complaint was filed.

December 16, 2016 (Shareholders Foundation) - An investor in shares of Dakota Plains Holdings Inc (NYSEMKT:DAKP) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Dakota Plains Holdings Inc in connection with certain allegedly false and misleading statements made between March 23, 2012 and August 15, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Dakota Plains Holdings Inc (NYSEMKT:DAKP) common shares between March 23, 2012 and August 15, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 23, 2012 and August 15, 2016 the Defendants made false and/or misleading statements and/or failed to disclose that Dakota Plains failed to disclose that Ryan Gilbertson and Michael L. Reger, co-founders of Dakota Plains predecessor company, had actual control of Dakota Plains’ business and operations, that Dakota Plains and its management colluded with Gilbertson and Reger to misappropriate Dakota Plains’ assets for Gilbertson and Reger’s personal gains at the expenses of Dakota Plains investors, that Dakota Plains lacked effective and adequate internal control, and that as a result, Defendants’ public statements about Dakota Plains’ business, operations and prospects were materially false and misleading at all relevant times

Dakota Plains Holdings Inc reported that its annual Total Revenue rose from $28.28 million in 2014 to $29.21 million in 2015 while its Net loss increased from $3.26 million in 2014 to $24.97 million in 2015.

On August 16, 2016, Northern Oil & Gas, Inc. announced that Michael L. Reger has been terminated as Northern's Chief Executive Officer and has ceased being a member of Northern's Board of Directors, effective immediately. Northern Oil & Gas, Inc said that it has cooperated with the Securities and Exchange Commission (the “SEC”) in connection with an ongoing investigation of 2012 trading patterns in the securities of Dakota Plains Holdings, Inc. and that Mr. Reger was an initial investor in Dakota Plains Holdings Inc in 2008.

On October 31, 2016, the SEC announced that it charged Ryan Gilberston, a co-founder of Dakota Plains, “with manipulating [Dakota Plains’] stock price and concealing his control of the company to attain lucrative financial payouts.” The SEC also announced that Dakota Plains’ other co-founder, Michael Reger, agreed to pay nearly $8 million to settle separate charges against him in connection with the manipulation of Dakota Plains’ stock price.