Pacific Coast Oil Trust unitholders sue BNY Mellon trustee over asset retirement cost deductions

• Investors filed a derivative suit in Texas on May 20, 2026, accusing the trustee of misconduct tied to asset retirement obligation deductions.
• The case seeks to block dissolution or any asset sale pending resolution; it was removed to the Texas Business Court on June 29, 2026.
• A separate whistleblower retaliation case against Pacific Coast Energy is set for trial on Sept. 8, 2026; punitive damages are barred.
• The trustee is investigating allegations that Pacific Coast Energy provided false operating data, including on asset retirement obligations, to the trust.
• Prior litigation over asset retirement obligation deductions ended with arbitration claims dismissed; an appeals court affirmed the awards on May 21, 2025.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Pacific Coast Oil Trust published the original content used to generate this news brief via Business Wire (Ref. ID: 20260731503979) on July 31, 2026, and is solely responsible for the information contained therein.