Pardee Resources Company: Pardee Secures Jury Verdict Against Utility Company

Rhea-AI Summary

Pardee Resources Company (OTC: PDER) said a West Virginia jury awarded $16.0 million to Big Huff Minerals LLC and its coal lessee for coal value under transmission towers. The court previously found the lessee would incur $58.0 million in added mining costs, creating a potential $74.0 million judgment plus ~$10.0 million prejudgment interest. Pardee expects its share to be ~33%, but the utility may seek reversal or appeal and collection is uncertain.

Positive

• Jury awarded $16.0M in damages to Big Huff and its lessee
• Court previously recognized $58.0M in added mining costs
• Potential judgment could reach $74.0M plus ~$10.0M interest

Negative

• Utility company likely to seek reversal or appeal, prolonging resolution
• Collection is uncertain; Company may not recover full judgment
• Pardee's share is ~33%, limiting net proceeds to shareholders

RADNOR, Pa., Feb. 13, 2026 /PRNewswire/ -- Pardee Resources Company (OTC: PDER) (the "Company") announced today that a West Virginia jury recently returned a favorable verdict for Big Huff Minerals LLC (Big Huff), a wholly owned subsidiary, and for Big Huff's coal lessee, against a large utility company related to a dispute involving a utility easement for its transmission lines and towers across Big Huff's property. The jury awarded $16 Million in damages and prejudgment interest to Big Huff and its coal lessee for the value of the coal lying beneath the transmission towers that would have been otherwise mined if the towers were not present on the property. The Court previously ruled that the coal lessee will incur $58 Million in added costs to mine around the transmission towers and that the coal lessee would be awarded that amount if the plaintiffs (Big Huff and its coal lessee) prevailed at trial. The plaintiffs intend to move for entry of a judgment order totaling $74 Million ($16M+$58M) and to request prejudgment interest on the added costs which could add approximately $10 Million to the judgment order. The Company's share of the total judgment order would be approximately 33%. The Company expects that the utility company will seek to reverse the jury's determination and may also appeal this decision, which may take years to resolve. The Company intends to vigorously pursue this judgment. While the Company's management believes, based on current knowledge and after consultation with counsel, that this judgment will be upheld, the outcome of legal actions and proceedings is inherently uncertain, and it is possible that this judgment may not ultimately be upheld or that the Company may be unable to collect on this judgment in full, or at all.

In addition to historical statements, this press release contains statements relating to future events and our future results. These statements are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our judgments and future expectations concerning our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, the risk that the jury award could be reduced or reversed or that the Company may be unable to collect on any judgment in full or at all. As a result, these forward-looking statements may turn out to be incorrect. We are under no obligation to (and expressly disclaim any obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise.

View original content:https://www.prnewswire.com/news-releases/pardee-resources-company-pardee-secures-jury-verdict-against-utility-company-302688103.html

SOURCE Pardee Resources Company

FAQ

What did Pardee (OTC: PDER) receive from the West Virginia jury verdict on Feb 13, 2026?

The jury awarded $16.0 million in damages to Big Huff and its lessee. According to the company, this covers coal value beneath transmission towers; additional court findings raise total potential awards when combined with added mining costs.

How much total judgment is Pardee (PDER) seeking after the jury verdict and prior court findings?

Pardee and plaintiffs intend to seek a judgment totaling $74.0 million, plus about $10.0 million in prejudgment interest. According to the company, that sum combines the $16.0M award and $58.0M added mining costs.

What portion of the potential judgment does Pardee (PDER) expect to receive?

The company expects its share of the potential judgment to be approximately 33%. According to the company, that percentage reflects Pardee's ownership stake in Big Huff Minerals LLC, a wholly owned subsidiary.

Will the utility company accept the Feb 2026 jury verdict against it in Pardee (PDER)'s case?

The utility company is expected to seek reversal or file an appeal, which could extend resolution for years. According to the company, the utility may challenge the jury's determination through post-trial motions and appeals.

How certain is recovery of the awarded amounts for Pardee (PDER)?

Recovery is uncertain and may be incomplete or delayed despite the verdict. According to the company, legal appeals and collection risks mean Pardee may not ultimately collect the full judgment.

What immediate action will Pardee (PDER) take after the jury verdict dated Feb 13, 2026?

Pardee intends to move for entry of a judgment order and to pursue collection of the award. According to the company, plaintiffs will request entry of the $74.0M judgment plus prejudgment interest.