Directors of American Standard Energy Sued for Fraud

Two former directors of American Standard Energy Corp. (ASEN) are being sued in the U.S. Bankruptcy Court for the Western District of Texas by the company for allegedly selling company property they didn’t own and putting a $20 million sale of the company’s assets in jeopardy.

ASEN co-founder Randall Capps and former CEO Scott Feldhacker, who is Capps’ son-in-law, were named in the suit, which asserts claims against the pair for fraud, breach of fiduciary duty, breach of contract and civil conspiracy. The suit is seeking unspecified damages.

ASEN filed for Chapter 11 bankruptcy protection in August 2015. The suit alleges that Capps and Feldhacker sold company property they did not own through Geronimo Holding Corp., a company owned by Capps. ASEN alleges that the sale of the property jeopardized the company’s sale of $20 million in assets and potentially harmed company creditors.

ASEN said that the company, which is now under new management, discovered the fraud once new management was in place. ASEN holds mineral rights in North Dakota and West Texas, and is seeking to restructure $40 million in secured debt. The company filed for Chapter 11 protection to stop foreclosure and enforcement actions brought by unsecured creditors.

The suit claims that the sale of company property by Capps and Feldhacker through Geronimo could result in a reduction of $7 million in the purchase price of company assets.

The Cogdell Law Firm is a full service criminal litigation and appellate law firm. We provide client-focused representation at all stages of the process, whether our clients are seeking to avoid charges, have been charged, or are seeking reversal of a conviction on appeal. When results matter most, contact Dan Cogdell at

Two former directors of American Standard Energy Corp. (ASEN) are being sued in the U.S. Bankruptcy Court for the Western District of Texas by the company for allegedly selling company property they didn’t own and putting a $20 million sale of the company’s assets in jeopardy.

ASEN co-founder Randall Capps and former CEO Scott Feldhacker, who is Capps’ son-in-law, were named in the suit, which asserts claims against the pair for fraud, breach of fiduciary duty, breach of contract and civil conspiracy. The suit is seeking unspecified damages.

ASEN filed for Chapter 11 bankruptcy protection in August 2015. The suit alleges that Capps and Feldhacker sold company property they did not own through Geronimo Holding Corp., a company owned by Capps. ASEN alleges that the sale of the property jeopardized the company’s sale of $20 million in assets and potentially harmed company creditors.

ASEN said that the company, which is now under new management, discovered the fraud once new management was in place. ASEN holds mineral rights in North Dakota and West Texas, and is seeking to restructure $40 million in secured debt. The company filed for Chapter 11 protection to stop foreclosure and enforcement actions brought by unsecured creditors.

The suit claims that the sale of company property by Capps and Feldhacker through Geronimo could result in a reduction of $7 million in the purchase price of company assets.

The Cogdell Law Firm is a full service criminal litigation and appellate law firm. We provide client-focused representation at all stages of the process, whether our clients are seeking to avoid charges, have been charged, or are seeking reversal of a conviction on appeal. When results matter most, contact Dan Cogdell at (713) 426-2244 or dan@cogdell-law.com.or dan@cogdell-law.com.

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